LONDON (Alliance News) - Globalworth Real Estate Investments Ltd, a real estate investment trust which invests in Romania, Friday said it has secured a EUR45 million short-term, secured debt facility, adding to a EUR55 million debt facility secured earlier this year.
Funds managed by Oak Hill Advisors (Europe) LP and York Capital Management Global Advisors LLC, through York Global Finance Offshore BDH (Luxembourg) Sarl, the investors which provided the EUR55 million debt funding at the end of March, are providing the facility.
Globalworth Real Estate envisages being able to repay the EUR100 million by issuing further debt, equity or a combination of both in the future.
It said the financing deals are in line with its plans to fund acquisitions with debt.
Oak Hill subscribed for EUR30.0 million of the latest facility, meaning it holds EUR66.7 million of the total funding, while York subscribed for EUR15.0 million of the facility, giving it a total of EUR33.3 million.
Globalworth Real Estate Investments shares last traded at EUR5.50 on June 17.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Globalworth (GWI)