Black Sea Property PLC Revised Lending agreed on Building refurbishment (3051B)
10 Febbraio 2022 - 11:12AM
UK Regulatory
TIDMBSP
RNS Number : 3051B
Black Sea Property PLC
10 February 2022
Black Sea Property
Revised Lending agreed on Ivan Vazov Building refurbishment
Black Sea Property PLC
9 February 2022
BLACK SEA PROPERTY PLC
("Black Sea Property" or the "Company")
Revised Lending agreed on Ivan Vazov Building refurbishment
Black Sea Property PLC, the Bulgarian real estate investment
company, is pleased to announce that it has revised and extended
lending terms with a leading Bulgarian commercial bank ("Funding")
for the reconstruction works of the Ivan Vazov Building, 1, Ivan
Vazov Str. Sofia. The Funding provides the board with clarity on
future costs and is a for a term of 12 years.
The bank has agreed to lend the Company up to BGN4,498,409
(approximately GBP2.0 million) in agreed allocated tranches for the
reconstruction, which need to be utilised within agreed timescales.
The Funding will be secured by a commercial mortgage on the
property and the Company has agreed to provide additional security
to the bank in accordance with normal commercial practice .
The Directors of the issuer accept responsibility for the
contents of this announcement.
For further information, please visit
www.blackseapropertyplc.com or contact the following:
BLACK SEA PROPERTY PLC simon.hudd@d3ainvestments.com
Simon Hudd - Chairman
PETERHOUSE CAPITAL LIMITED
AQSE Corporate Adviser
Mark Anwyl and Duncan Vasey +44 (0) 207 469 0930
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END
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February 10, 2022 05:12 ET (10:12 GMT)
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