Plan for financing the construction of the Sun Beach Hotel Resort complex
PRESTON Capital has already invested $8.45 million in equity in the project to acquire the land. For construction, the company uses its own capital, funds from pre-sales of individual apartments and finance from a bond prospectus approved by the Central Bank of the Czech Republic up to the maximum amount of CZK 500,000,000.
In the event of any delay in construction, PRESTON Capital has pre-negotiated loans with a Czech and also a local bank. However, at the current pace of apartment sales, the company most probably won't not use the loans.