The Arcona Property Fund is financed by a combination of equity and third-party debt.
|Equity capital||€ 38.70 million|
|Bank lending||€ 31.43 million|
|Convertible Bonds||€ 5.78 million|
|Seller loan||€ 4.7 million|
|Loan||€ 2.0 million|
The equity capital comprises 3,165,149 shares with a total nominal value of € 38.87 million. The equity capital reflects an intrinsic value per share of € 12.52 as at 30 June 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||€ 10.7 million|
|Term||to November 2021|
|1-month EURIBOR + 3.25%|
|Bank||DNB Bank Polska S.A.|
|Amount||€ 7.05 million|
|Term||30 November 2019|
|3-month EURIBOR + 3%|
|Amount||€ 8,25 million|
|Term||31 March 2019|
|6-month PRIBOR + 2,70%|
|Amount||€ 12.5 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||20 February 2018|
|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|
Structuur Arcona Property Fund N.V.
13 September 2017
29 December 2017
€ 13,35+ 1,99%
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