OREANDA-NEWS. The Arricano Group ("Arricano Group"), through its subsidiary Prizma Alpha, has received a seven year USD 15 million loan facility from Raiffeisen Bank Aval for development of its Shopping and Entertainment Center "City Mall", located in Zaporizhzhia. The loan facility will be used to refinance the current debt obligations and to develop the investment properties of the Arricano Group.

Emil Budilovsky, Arricano Group CEO:

"In light of the relatively low activity in the Ukrainian real estate sector, the banks and financial institutions are looking for borrowers with a positively performing portfolio and a strong balance sheet. In my opinion, the loan facility from Raiffeisen Bank Aval is indicative of the banking sector's confidence in the Arricano Group and its business strategy".

Arthur Iliyav, Raiffeisen Bank Aval Board Member:

"Raiffeisen Bank Aval remains committed to the Ukrainian market and continues to provide long term financing also to the real estate sector. Projects with a clear concept, professional management and a realistic business case will be financed by us even in difficult times, whether in the capital city of Kiev or in the regions".

Maxim Goncharuk, Arricano Group CFO:

"The project in Zaporizhzhia has shown positive performance, which we believe, allowed us to receive the facility on favorable terms."

Arricano Group's credit portfolio includes loans from both Ukrainian and foreign banks.