November 7 (SeeNews) - Bulgaria's ERG Capital-3 REIT [BUL:5ERB] said that it intends to repay early 1.73 million euro of the principal of its 9.5% 2.89 million euro ($3.3 million) bond issue, due in 2021.
ERG Capital-3 will repay the funds if its successfully wraps up a deal to sell a piece of real estate by November 15, the real estate investment trust said in a statement on Tuesday.
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The REIT will make the payment on November 21, if the condition is fulfilled.
In September, ERG Capital-3 said that it has signed a preliminary contract for the sale of real estate worth 3.5 million euro, and the signing of the final contrac depends on certain conditions, which were not disclosed.
($ = 0.8709 euro)