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10:14
XXI CENTURY DEVELOPER TO FINISH RESTRUCTURING OF TWO CREDIT LINES WORTH $84 M

Kyiv, July 29 (Interfax-Ukraine) – Kyiv-based XXI Century developing company plans in the nearest future to finish talks with Kharkiv-based UkrSibbank, part of BNP Paribas Group, and Cyprus-based Eurobank EFG Cyprus on the restructuring of two credit lines worth $84 million, the company's director general, Heorhiy Tsahareishvili, has said.

"The two loans [were taken] for projects that are operating and generating cash. The restructuring of the debts is in the final stage," he told the press at a press lunch in Kyiv on Tuesday.

He said that the $56 million credit from Eurobank EFG Cyprus was received for investing into the Kvadrat trade center located on Perova Avenue and the $28 million credit taken from UkrSibbank for the Kvadrat trade center located in the Lukianovka district.

The company's director said that the company’s financial report for 2008 would be made public soon.

XXI Century, the leading Ukrainian developer, has been operating on the real estate market since 1999. Its shares have been quoted on the London Stock Exchange since December 2005 ($139 million has been attracted).
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