Arco Vara AS conducted a bond issue as a result of which bonds in the amount of 1,780,000 euros were issued.
The issue date of the bonds is 16 December 2020 and the maturity date is 13 December 2022. 178 bonds were issued in the nominal value of 10 000 euros with interest rate 10% per year. The issued bonds were not guaranteed. The issued bonds have been paid for in full. The bond issue was conducted in accordance with Article 1 of Regulation (EU) 2017/1129 of the European Parliament and of the Council and was not public.
Bonds were subscribed for by 16 investors. All subscription applications were satisfied. No related parties were among the investors.
Proceeds of the bond issue will be used for financing the development of Kodulahe project.
On 21 December 2020, Arco Vara AS will redeem on time the existing bonds with 2 year term and 12% annual interest in the aggregate amount of 1,325,000 euros.