ARTICLES LABELLED WITH TAG refinancing

pbb Deutsche Pfandbriefbank and Helaba have jointly underwritten an investment facility, totalling €107.5 million, to refinance Futurama Business Park located in Prague for Caerus Investment Management on behalf of a separate account client. pbb and Helaba, acting as Joint Lead Arrangers, provided equal portions of the funding. pbb also acted as facility and security agent of the transaction.

Accolade and Aareal Bank of Germany have agreed on the refinancing of six parks in Szczecin, Bydgoszcz, Lublin, Legnica, Białystok, and Zielona Góra in Poland.  This refinancing, in an aggregate value of €153 million, is one of the largest financial transactions in the industrial real estate segment in Central Europe.

The Arete investment and real estate group signed a loan agreement with Raiffeisenbank for up to €80 million. The funds will be used to refinance the existing real estate portfolio of the second ARETE fund (ARETE INVEST Sub-Fund CEE II) and to invest in new industrial assets.

Czech industrial developer Contera has obtained a syndicated loan from ČSOB and Komerční banka in the total amount of €155 million. Most of the funds will be committed to refinancing the developer’s portfolio of warehouses and production halls in the Czech Republic and Slovakia, which are owned and operated by Contera together with US investment company TPG Capital. The remainder of the loan is allocated to the development of new projects.

GTC signed a €130 million refinancing loan agreement for one of the largest assets in its portfolio, Galeria Jurajska. Located in Częstochowa, the 48,700 sqm shopping centre offers over 200 stores, service points, restaurants and a multi-screen cinema.

Focus Estate Fund has received refinancing from BNP Paribas Bank Polska for its Polish portfolio of retail assets, shopping centres Galeria Sandomierz (Sandomierz) and Galeria Awangarda (Bartoszyce) with a total area of more than 10,000 square meters.

Apsys has refinanced the Centrum Posnania retail asset with a 10-years maturity, €300 million senior loan from Allianz - completed by Allianz Real Estate on behalf of several Allianz companies - and that it now owns 100% of the 100,000 sqm property in Poznan, Poland.

Hungarian residential developer Cordia  has carried out a successful bond issue on 5 November (Cordia 2026/I). The financial settlement date is 7 November 2019, the maturity is 7 November 2026. The offered volume was HUF 40 billion at face value which attracted HUF 53.55 billion in bids. The amount of funds raised is HUF 44.4 billion.

Dentons advised Raiffeisen Bank International AG and Raiffeisen Bank SA in connection with a €34 million facility agreement granted to VGP Park Timisoara SRL to refinance an industrial project, including four prime logistic buildings in Timis, Romania.

Helaba, Berlin Hyp and pbb Deutsche Pfandbriefbank have jointly underwritten an investment facility totalling €230 million to refinance Warsaw Spire Tower. The asset is owned by Immofinanz. The financing transaction closed in September 2019. Helaba, Berlin Hyp and pbb are acting as joint lead arrangers providing equal portions of the funding, with Helaba acting as facility and security agent of the transaction.