Loan agreement

Arco Invest EOOD, a subsidiary of Arco Investeeringute AS, concluded a loan
agreement with Piraeus Bank Bulgaria Plc. in amount of 219 mEEK (14 mEUR) 

The purpose of the loan is the financing of construction of Manastirski project
in Bulgaria in Sofia. Maturity of the loan is 48 months with a grace period 24
months. Interest is based on 3m EURIBOR and the margin 2,25% to 2,75% depends
on the sales of the apartments. 

The project is located 2km from the city centre and involves 8990m2 of land.
According to the zoning rights the above and underground construction volume in
total is 34 700 m2. 

In three years the company plans to construct there commercial and residential
spaces. 

 
Additional information:
Heigo Metsoja
IRO
+372 6144 654
heigo.metsoja@arcovara.ee
http://www.arcorealestate.com