LONDON (Alliance News) - Globalworth Real Estate Investments Ltd Wednesday afternoon said it has closed a deal for a EUR27 million debt facility with Banca Comerciala Romana, part of Erste Group, secured against the newly acquired Green Court Building A.
Globalworth had said earlier Wednesday that it has closed the acquisition of Skanska's Green Court Building A in Bucharest for EUR42 million, which it paid from existing cash resources.
"The proceeds from the financing will be used for general corporate purposes of the company, including towards funding its current development projects," Globalworth said in a statement.
News of the financing facility came as Globalworth said its net asset value increased to EUR402.6 million at the end of March, from EUR392.7 million at the end of 2014. NAV per share was up 2.5% at EUR7.50 over the same period.
Earnings before interest, tax, depreciation and amortisation amounted to EUR2.5 million in the quarter, compared with a loss of EUR1.4 million on the same basis in the corresponding quarter of the prior year.
Globalworth shares last traded at EUR5.50 on June 17.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Globalworth (GWI)