by Property Forum | Residential

Murapol has restructured its existing debt and obtained a new loan from mBank and Bank Pekao in the amount of PLN 350 million. The developer is implementing a plan to rationalize the financing structure and to support the sustainable development of nationwide operations.

"We are consistently implementing the strategy of strengthening the group in terms of organization and operation and improvement of financial parameters, including the effectiveness of debt management and collateral. We strive to align key aspects of financing operations with listed developers", said Nikodem Iskra, CEO of Murapol.

The successfully completed refinancing project allows to organize the debt structure and improve cooperation with lenders by concentrating the entire group's debt in one banking syndicate. As a result, the expected optimization of the use of funds by the Group opens up further prospects for additional financing of the ambitious plans of the Murapol capital group, it was also indicated.

"The current financing structure is very beneficial from the point of view of flexibility in using and investing our resources. I am glad that we managed to acquire strong financial partners, it is an additional advantage of the Murapol capital group in strengthening the position of a leading development company with a nationwide reach," added Przemysław Kromer, CFO and member the management board of the Murapol capital group.

Accumulation of all financing with two consortium members not only significantly simplifies the forms of indebtedness, but also results in the possibility for companies from the Murapol Group to conduct an early redemption of all corporate bonds issued in the past. These activities are in line with the long-term strategy of Murapol Group and the expectations of the new shareholders, which are the joint venture AEREF V PL Investment S.A. R.L., established by a fund managed by Real Estate Group Ares Management Corporation, and Griffin Real Estate.

In 2020, Murapol sold 2,720 apartments.