On Monday December 18, 2006, Technical Olympic S.A. proceeded to the issuance of a Euro 10 mil. bond loan with Bank of Cyprus.
The proceeds of the loan will be used for the restructuring of the company''s debt and more specifically for the payment of short-term and long-term bank loans. The duration of the loan has been set to 2 years.
The Management of Technical Olympic deems that the abovementioned loan will assist the realization of the company''s investment plan through the enhancement of its capital liquidity.