GTC has announced financing extension for Galeria Jurajska shopping centre in Częstochowa (southern Poland). The amended credit agreement extends the loan maturity by 5 years, with a remaining balance of €100.65 million. The financing is provided by Erste Group Bank AG and Raiffeisenlandesbank Niederösterreich-Wien AG.
As at the date of signing, the debt of GTC Galeria CTWA sp. z o.o., a 100 per cent subsidiary of Globe Trade Centre (GTC) and owner of Galeria Jurajska, was €100.65 million. The interest rate on the loan was set at the three-month EURIBOR rate plus a margin. Collateral for the loan includes, among other things, a mortgage on real estate, powers of attorney over bank accounts and the blocking of accounts. The conditions for entry into force of the contract depend on the fulfilment of standard conditions precedent.
Galeria Jurajska is one of the largest and most modern shopping centres in southern Poland. Located in Częstochowa, it offers nearly 49,000 sqm of leasable space, with more than 200 shops, restaurants and service outlets. The shopping centre was opened in 2009.
