XXI Century attracts USD 60 mln from Eurobank EFG Cyprus
3 June 2008
XXI Century (XXIC: BUY) has attracted a three-year loan of USD 60 mln from Eurobank EFG Cyprus at LIBOR+5.5%, the company announced yesterday. The proceeds will be used to repay a portion of the company’s existing indebtedness and finance its project portfolio. Alexander Romanov: On May 23 XXI Centuty placed USD 150 mln in Eurobonds with coupon of 14% p. a. (7% until August 25, 2008). The two consecutive successful deals of debt financing signal high investors’ confidence in the company and are positive for the stock price.
