16th Sep 2014 15:55
LONDON (Alliance News) - MirLand Development Corp PLC Tuesday said it has issued new series F bonds in the total amount of ILS190 million, or about USD39.7 million, with the proceeds to be used for general corporate purposes and repayment of existing debt.
Cyprus-headquartered MirLand is focused on residential and commercial real estate in Russia.
Midroog, a subsidiary of Moody's Investor Services, the credit rating agency, has rated the bonds as "ilBaa1/Stable", and they bear interest at 5.50%, according to the company's statement.
MirLand shares Tuesday closed up 9.1% at 235.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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