September 21 (SeeNews) - Bulgaria's Intercapital Property Development REIT [BUL:ICPD] issued a 6 million euro ($7.0 million) bond on September 17, it said.
The five-year bond issue of 6,000 bonds of 1,000 euro in par value each carries an annual coupon of 6% due semi-annually, the company said in a stock exchange filing late on Monday.
The bond will help the REIT refinance an existing loan and invest in Marina Cape vacation complex located on the Black Sea coast.
Shares in Intercapiltal Property Development REIT last traded on the floor of the Bulgarian Stock Exchange on August 24, when they closed 0.55% lower at 0.9 levs ($0.54/0.46 euro).
($ = 0.8529 euro)