Globalworth announced the signing of two new facilities with Erste Group for an aggregate amount of €160 million. These facilities are part of the ongoing strategic management of our liquidity and debt management initiatives, further strengthening the company's liquidity position at attractive market terms.
The first facility is a €50 million unsecured Revolving Credit Facility (RCF) with a three-year term, which has been structured to generally align with the terms of the company's existing Euro Medium Term Note (EMTN) programme and its existing syndicated €215 million RCF.
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.
Erste Group, through Erste Group Bank AG and Banca Comerciala Romana SA, has provided both facilities.
Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director, Globalworth, commented: "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. I would also like to take this opportunity to thank the Erste Group for the close and successful cooperation over the years and to our continued partnership in the future".
