Last checked at 1 Jul 2015 14:33
Globalworth Real Estate Investments Limited
Globalworth closes debt financing against Green Court Building A
Guernsey, 1 July 2015: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or the "Company"), the real estate investment company targeting opportunities in Romania, is pleased to announce that further to the closing of the Green Court Building A acquisition, it has closed a debt facility of €27 million from Banca Comerciala Romana (BCR), a member of Erste Group, secured against the asset.
The proceeds from the financing will be used for general corporate purposes of the Company, including towards funding its current development projects.
For further information visit www.globalworth.com or contact:
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20 7886 2500
Andrew Potts
Cantor Fitzgerald Europe (Joint Broker) Tel: +44 20 7894 7000
Rick Thompson
David Foreman
Milbourne (Public Relations) Tel: +44 20 3540 6458
Tim Draper
About Globalworth
Globalworth Real Estate Investments Limited is a real estate investment company founded by real estate investor and developer Ioannis Papalekas currently focused on taking advantage of investment opportunities in Romania. The Company is Guernsey incorporated and has been declared by the Guernsey Financial Services Commission to be a registered closed-ended collective investment scheme. The Company's shares were admitted to trading on AIM in July 2013.
The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania in search of higher yielding investments. As a result, Romania should, in due course, become a more attractive destination for a wide investor audience. Globalworth anticipates holding an early mover advantage in and benefitting from this gradual shift in investor sentiment.