August 27 (SeeNews) - Croatian tourism company Sunce Koncern [ZSE:SUKC] announced on Monday it plans to sign a deal to refinance its entire financial debt on August 28.
In addition to refinancing short-term and long-term financial liabilities, part of the total value of the transaction will be used to cover the cost of the company's investments in 2018, Sunce Koncern said in a Zagreb bourse filing.
The tourism company provided no further details.
Sunce Koncern owns and operates 11 beachfront hotels on the Croatian Adriatic coast with more than 2,690 rooms and other tourism related properties located in four popular tourist locations in Croatia. It has been operating in its current form since 2005 and all properties are mostly managed and operated in-house, under the brand BlueSun Hotels and Resorts.
In November, the company established a joint venture with TUI by selling to its Germany-based peer 50% of hotel operator Punta Zlatarac Tucepi.