Subsidiaries of Polish industrial developer MLP Group have secured a €73.4 million loan for financing its portfolio from a consortium of BNP Paribas Bank Polska and PKO Bank Polski.
The funds will be used to refinance the existing credit obligations of the companies and, among others, to finance the group’s current investment projects. Cooperation with banks will contribute to strengthening the financial stability of MLP Group. This will include refinancing the outlays planned for the expansion of the MLP Wrocław logistics park and, additionally, financing investment projects of the subsidiaries by repaying subordinated loans to the MLP Group.
“Due to the dynamic growth of the scale of our operations, the optimisation of our financing is very important to us. Our goal is to build and maintain debt with a diversified structure allowing for flexible cost management. Concluding a loan agreement with two key banking institutions will contribute to strengthening our financial stability by obtaining a new source of financing and extending the maturity of the debt,” says Monika Dobosz, CFO at MLP Group.
At the end of last year, MLP Group had completed 715,000 sqm warehouse space with another 145,000 sqm under construction. The company has a land bank with a target development area of around 1.3 million sqm. MLP Group has also signed a number of reservation agreements for the purchase of land for planned logistics parks in Stryków Pruszków and Poznań in Poland, as well as in Gelsenkirchen, Cologne, Frankfurt am Main and Leipzig in Germany, and for sites in Austria.
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