By Mary-Katherine Stinson
Lexington, Ky., Dec. 14 – Arco Vara AS issued €2.12 million of 10% two-year bonds, according to a notice.
The bonds are not guaranteed.
Bonds were subscribed for by 21 investors, and all subscription applications were satisfied.
The proceeds will be used for financing the development of the Kodulahe Kvartal project.
The company stated that the originally planned amount of bonds was reduced by €80,000 because this amount was formalized as a loan received in response to the investor’s request. The loan has the same terms as the bonds.
Arco noted that on Dec. 13 it redeemed its existing €1.78 million 10% bonds at their maturity.
Arco Vara is a Tallinn, Estonia-based real estate company. It also operates in Latvia and Bulgaria.
| Issuer: | Arco Vara AS
|
| Issue: | Bonds
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| Amount: | €2.12 million
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| Maturity: | Dec. 13, 2024
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| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Settlement date: | Dec. 14
|
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