OREANDA-NEWS. On 04 June 2008 XXI Century, one of Ukraine's leading real estate investment, development and property management companies, announced the following update on its financing activities in Ukraine.

The Company has arranged a 3-year credit facility of US\\$60 million at an interest rate of LIBOR + 5.5% with Eurobank EFG Cyprus. XXI Century intends to use this loan to repay a portion of its existing indebtedness and to finance the Company's project portfolio.

“This credit facility is a benchmark for XXI Century, being the cheapest project financing arrangement we have ever made. We are pleased that we were able to obtain the loan on such lucrative terms, especially given the present volatility in global financial markets.  We intend to continue to capitalise on our good corporate standing in Ukraine to ensure that our portfolio is financed timely and cost-effectively”, said Lev Partskhaladze, Chairman of the Board of XXI Century.