Argo Real Estate Opportunities Fd Statement re: Suceava Shopping City debt facility (5959V)

TIDMAREO

RNS Number : 5959V

Argo Real Estate Opportunities Fd

16 January 2013

Argo Real Estate Opportunities Fund Limited

("AREOF" or "the Company")

Statement Re: Suceava Shopping City debt facility

The Board is pleased to announce that AREOF has successfully completed an extension to the debt facility that supports the Company's Suceava Shopping City retail park in the Romanian city of Suceava. The EUR 50m facility with Alpha Bank, which carried a fixed interest rate of 5.2%, matured on 10 November 2012. Following negotiations, Alpha Bank has agreed to extend the maturity of the facility to 10 November 2015 with a change in the interest rate to 3 month Euribor plus a margin of 3.35%. The documentation of this agreement is complete with all conditions related to it having been fully satisfied by both parties.

Enquiries:

 
 Argo Real Estate Opportunities Fund Limited 
  David Clark, Chairman                         +44 (0)1481 231100 
 
 finnCap Limited (Nominated Adviser) 
  Matthew Robinson 
  Henrik Persson                                +44 (0) 207 220 0500

This information is provided by RNS

The company news service from the London Stock Exchange

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