The loan agreement is in a total amount of EUR 10m, consisting of two tranches, due 2030 at a fixed interest rate of 2.125%.

Arena Hospitality Group published a statement on the Zagreb Stock Exchange announcing that they have entered into a new loan agreement with OTP banka in Croatia for the purchase and refurbishment of Hotel Riviera in Pula.

The loan agreement is in a total amount of EUR 10m, consisting of two tranches, due 2030 at a fixed interest rate of 2.125%. Note that as of Q1 2020 Arena Hospitality operates with a net debt/ EBITDA of 3.2, while the company is mainly equity funded (56.1%).

The company adds that the financing confirms again the support the Group has from its lending partners.