XXI Century Announces Deal To Build 13 Hotels For Euro-2012
4 June 2008
On Friday, XXI Century Investments (XXIC LN), one of Ukraine’s leading real estate developers, announced that it had signed an agreement with France’s Accor Group for the construction of 13 hotels in Ukraine. As part of the deal the two companies will complete 4 five-star hotels in Kyiv by 2010 along with nine three-star hotels in other Ukrainian host cities. The exact terms of the company’s partnership in this project were not released. Last week XXI Century completed its debut USD 175 mln Eurobond issue, with a 10 percent coupon paid semi-annually. The issue will be listed on the Luxembourg Stock Exchange.
