Pursuant to the relevant regulation on public disclosure of price sensitive information, Sunce koncern d.d., Trpinjska 9, Zagreb („Sunce”, the “Company” or the “Group“), hereby announces that WOT Hotels Adriatic Asset Company d.o.o., a Joint Venture (“JV”) entity of Sunce with a global travel group TUI AG, has signed a Loan Agreement on refinancing of outstanding JV’s financial obligations.
The Loan Agreement valued at EUR 11,5 million was signed yesterday, 30 May 2019, with OTP banka d.d., Split, as the new Lender.
With this arrangement, JV has achieved reduction in the average interest rate and increase in duration of financial obligations.
Neither TUI AG nor any member of the Sunce Group is providing any form of financial guarantee under the Agreement. The collaterals used in the Agreement are customary for this type of transaction.
Sunce holds 50% interest in WOT Hotels Adriatic Asset Company d.o.o. via a Group member Hoteli Tučepi d.d.
Sunce koncern d.d.
Contact: ir@bluesunhotels.com
WEB: www.bluesunhotels.com/investors
Source of information:
Sunce Koncern d.d.
Trpinjska 9
10000 ZAGREB
Tel: 01/3844-044
Fax: 01/3844-177
E-mail: ir@bluesunhotels.com
Web: www.bluesunhotels.com
- end - -