Property developer and investor Globalworth has secured new funding worth €160 million from Austrian Erste Group.
The first facility is a €50 million unsecured Revolving Credit Facility with a three-year term. The second facility is a €110 million asset-secured financing of the Company’s logistics / light-industrial portfolio in Romania, with a ten-year term.
“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 to market conditions, the Group may consider certain capital market transactions, including repurchasing issued bonds or shares in the upcoming reporting periods,” said Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director, Globalworth.
The financing was provided by Erste Group Bank and Banca Comerciala Romana. Globalworth's portfolio comprises office and industrial assets in Romania. The group is also a significant player on the Polish property market.
