AS PRO KAPITAL

ANNOUNCEMENT

09.06.99

 

PRO KAPITAL WILL ISSUE HOUSING LOANS TO ITS CLIENTS AT 6% ANNUAL 

INTEREST 

 

AS Pro Kapital will issue during 01.06.-31.12.99 convertible bonds. 

Volume of the issue is 4 500 000 convertible bonds, at par value of 

EEK 10 and sales price EEK 50.

 

A Swiss investment company has currently undertaken an obligation to 

subscribe for convertible bonds in total value of DEM 10 000 000 or 

EEK 80 000 000. 

 

AS Pro Kapital will direct these funds (EEK 80 million) to finance the 

housing loans to its clients on the following conditions: loan 

interest 6% on annual basis; 20% self-financing; loan payback schedule 

will be calculated on annuity basis for 20 years, whereas the loan 

should be refinanced in 3 years.

 

 

Ilona Saari

Financial Director

Pro Kapital Group 

Tel. +372 614 4920