The Arcona Property Fund is financed by a combination of equity and third-party debt.
|Equity capital||€ 42.25 million|
|Bank lending||€ 36.00 million|
|Convertible Bonds||€ 4.57 million|
|Seller loan||€ 4.7 million|
|Loan||€ 2.0 million|
The equity capital comprises 3,165,149 shares with a total nominal value of € 42.25 million. The equity capital reflects an intrinsic value per share of € 13.35 as at 29 December 2017.
The Arcona Property Fund has debt arrangements with three regional banks, in Poland, Czech Republic and Slovakia.
The outline terms of these financing arrangements are as follows:
|Bank||Raiffeisen Bank Polska S.A.|
|Amount||€ 10.1 million|
|Term||to November 2021|
|1-month EURIBOR + 3.25%|
|Bank||DNB Bank Polska S.A.|
|Amount||€ 6.08 million|
|Term||30 November 2019|
|3-month EURIBOR + 3%|
|Amount||€ 7.5 million|
|Term||31 March 2019|
|6-month PRIBOR + 2,70%|
|Amount||€ 11.5 million|
|Term||30 june 2021|
|3-month EURIBOR + 2.45%|
Since 2014 the Arcona Property Fund has placed three tranches of convertible bonds on the market through private placements. These convertible bonds are not exchange-listed and are not tradeable.
The key terms of each tranche are shown below:
|term||1 December 2019|
|Term||31 October 2021|
For the purchase of three leasehold shopping centres in Poland the Arcona Property Fund agreed a loan from the seller of the properties.
|Amount||€ 4.7 million|
For the purchase of the Office building "Maris" in Poland the Arcona Property Fund attracted a loan.
|Amount||€ 2.0 million|
|Term||23 December 2018|
Structure Arcona Property Fund N.V.
20 February 2018
11 September 2018
€ 13,91- 0,70%
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