Romanian developer Iulius and its partner Atterbury Europe have secured a financing deal worth €410 million for its national network of shopping centres in four Romanian cities.
The loan will be used to refinance the shopping malls in Iași, Cluj-Napoca, Suceava and Timișoara, whilealso supporting the long-term investment plans of the company.
”The new loan aims to implement the corporate objectives of the company's development strategy," said Marius Perșenea, Chief Operating Officer of Iulius.
The loan was provided by a banking syndicate comprising Erste Group Bank AG, Banca Comercială Română, Raiffeisenlandesbank Niederösterreich-Wien AG, OTP Bank Nyrt. and OTP Bank România.
Law firm Wolf Thiess supported the developer of the financing deal.
Iulius’ development pipeline of around €650 million includes an large mixed-use scheme in Cluj-Napoca as well as office and retail projects in Iași and Suceava.
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