Arricano Real Estate draws another $2.5m from Ukraine facility

21st Feb 2020 14:25

(Sharecast News) - Arricano Real Estate updated the market on the loan facility of its wholly-owned subsidiary Comfort Market Luks on Friday, which was first announced in July.
The AIM-traded firm said Comfort Market Luks operates the Kyiv Prospekt shopping and entertainment complex, and added that the loan facility was with the State Savings Bank of Ukraine.

It announced on Friday that, having satisfied the relevant conditions, it had drawn down a further $2.5m of the remaining $12.192m available under the facility.

"Further drawdowns under the facility, unless price sensitive, will be aggregated and reported on in the company's annual and interim reports," the board said in its statement.

"This drawdown will be utilised to finance ongoing construction of the Lukianivka Shopping and Entertainment Center in Kyiv."