ONYX TOURISTIKI S.A. announces the start of drawdowns under the €7,800,000.00 current-account credit facility it has entered into with CrediaBank.
The financing is for working capital in the form of interim financing (a bridge loan) to cover expenses included in the approved investment plan under the Recovery and Resilience Fund (RRF). These expenses are necessary to obtain the permit for the investment project’s inclusion in the Strategic Investments framework (ESCHASE) and to determine its location.
At the same time, in connection with the Common Bond Loan, the Company and CrediaBank signed a private agreement for technical advisory services with RESOLUTE HELLAS SINGLE-MEMBER S.A., which has specialised, long-standing experience in the technical certification and assessment of construction projects. The adviser will certify each stage of the works and the procurement of the equipment required for the project, with the aim of ensuring and certifying its progress and completion in accordance with the loan documents and the applicable institutional framework governing the RRF.
In this context, ONYX TOURISTIKI S.A. announces the start of work on its investment project, titled “Agrotourism Village with an Integrated Tourist Resort in Sani, Halkidiki”, following completion of the “First Certification by the Technical Adviser of the progress of the Project’s works”. This certification covered payments to suppliers in various fields for the start of their scheduled work.
The start of work and the flow of financing mark the project’s entry into a substantive phase of construction. The Company will keep the investment community informed of its progress in a timely manner.