Globalworth Real enters facilities worth EUR160 million with Erste
Globalworth Real Estate Investments Ltd on Friday said it entered two facilities for a total of EUR160 million with Austrian financial services provider Erste Group Bank AG. Globalworth is an... |…
(Alliance News) - Globalworth Real Estate Investments Ltd on Friday said it entered two facilities for a total of EUR160 million with Austrian financial services provider Erste Group Bank AG. Globalworth is an investor in real estate in Central and Eastern Europe, with particular focus on Poland and Romania. One facility is a EUR50 million unsecured revolving credit facility with a three-year term "which has been structured to generally align with the terms of company's existing Euro medium term note programme and its existing syndicated EUR215 million RCF." The other facility is a 10-year EUR110 million asset-secured financing of the Globalworth's logistics/ light-industrial portfolio in Romania.
Mihai Zaharia, head of Investments Romania & group capital markets director at Globalworth said: "Liquidity remains a key focus for us, so we are delighted to have obtained further flexible, committed capital on favourable terms, notwithstanding the prevailing macroeconomic environment. Also, in response and subject to market conditions, the group may consider certain capital market transactions, including repurchasing issued bonds or shares in the upcoming reporting periods." Globalworth shares were 2.8% higher at EUR4.26 each in London on Friday morning. By Tom Budszus, Alliance News reporter Comments and questions to EMAIL Copyright 2022 Alliance News Ltd.
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