Bulgarian REIT Intercapital Borrows 5.0 Mln Euro for Ski Resort Project Construction

Intercapital received an investment credit of 4.5 million euro and a working capital credit of 500,000 euro from DSK Bank, owned by Hungary's OTP Bank, the REIT said in a filing with the Bulgarian Stock Exchange information service X3 News late on Friday.

The funds will go for the implementation of a project in ski resort Borovets, Intercapital said.

The company opened its Marina Cape holiday complex in the Black Sea town of Aheloy in 2007.

The REIT’s shares last traded on Friday, closing at 8.0 levs, down 3.0%.

($ = 0.6798 euro)