The first loan, worth RON9.88 million, will be used through successive withdrawals depending on the evolution of the constructions. The loan shall be reimbursed according to the contractual provisions, and the final maturity date shall be upon the expiry of 30 months from the execution date of this credit agreement
The second loan, worth EUR3.5 million, will be used to fund the value-added tax (VAT) related to the construction of the Boreal Plus Constanta project.
The Boreal Plus residential development, whose market value is estimated at EUR61 million, will include 693 housing units in villas and apartments.
Impact Developer & Contractor has a market capitalization of RON789 million and its shares have been trading up 58% since the beginning of 2021, amid deals worth RON30.2 million.
Impact ended the first quarter of 2021 with a net loss of RON1.3 million, compared with a net result of RON627 million in the same period in 2020, while its EBITDA dropped 8% to RON4.4 million.
Impact is 59.4% owned by Gheorghe Iaciu and 16% by Andrici Adrian.