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13 Aug 2008 07:00
๏ปฟ
Date: 13ย Augustย 2008
On behalf of: Dawnay, Day Carpathian PLC ("Carpathian" or "theย Company")
Embargoed until: 0700hrs
Dawnay, Day Carpathian PLC
EUR 62,500,000ย Constructionย Finance Facility secured for Romanian Development
Carpathian (AIM: DDC),ย the Central and Eastern Europe retail property investment company,ย is pleased to announce that it hasย secured aย constructionย finance facility of EUR 62,500,000 from MKB Bankย to fund the development of Atrium Center Arad, its city centreย retail projectย in Arad, Romania. Atriumย Centerย Aradย is one of four retail projects that Carpathian is currently developing inย Romania. It is due for completion in 2009.
Commenting on the financing, Rupert Cottrell, Chairman of Carpathian, said:
"We are delighted to have secured thisย constructionย finance facility from MKB Bank for this key project inย Romania. This further reinforces the market's confidence in our approach and the quality of the assets we are developing."
- Ends -
Enquiries:
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Carpathian Asset Management Limited
Paul Rogers / Balazs Csepregi
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020 3178 2892
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Numis Securities Limitedย
Nominated Adviser:
Anthony Richardson/Nick Westlake
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Corporate Broking:
Charlie Farquhar
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020 7260 1000
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Redleaf Communications
Emma Kane/Adam Leviton/Henry Columbine
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020 7822 0200
carpathian@redleafpr.com
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Notes to Editors:
Carpathianย was created in 2005 for the purpose of investing in Eastern European commercial real estate.
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Itsย primary focusย isย on shopping centres, supermarkets and retail warehousing in several target countries in Central and Eastern Europe including theย Czech Republic,ย Hungary,ย Poland,ย Romaniaย and the Baltics.
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Carpathian Asset Management Limitedย is the Property Investment Adviser toย Carpathian. It is responsible for identifying acquisition targets, managing transactions, developmentsย and portfolios within Central andย Eastern Europe.
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