Chicago, April 25 – Silk Road Real Estate issued a $20 million 9% three-year bond, according to a press release.
The company plans a second tranche for $20 million.
Proceeds will be used to refinance existing bank debt and to buy out the Georgian Partnership Fund, which provided mezzanine financing for the development of Tsinandali Radisson collection.
Tbilisi-based Silk Road develops real estate projects and manages developed properties. The issuer will soon be listed on the Georgian Stock Exchange as a publicly listed company.
| Issuer: | Silk Road Real Estate
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| Amount: | $20 million
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| Issue: | Bonds
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| Tenor: | Three years
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| Coupon: | 9%
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| Settlement date: | April 25
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