Last checked at 1 Jun 2022 16:20
FOR IMMEDIATE RELEASE
1 June 2022
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
€85 million loan agreement with the IFC
Globalworth, the leading office investor in Central and Eastern Europe, is pleased to announce that the Company and Globalworth Holdings Cyprus Limited have entered into a six-year term loan agreement for €85 million (the "Loan") with the International Finance Corporation ("IFC"), which is a member of the World Bank.
The Board of Globalworth considers that the Loan will further strengthen the Company's liquidity position and provide the Company with flexible capital on attractive terms. In accordance with its terms, an equivalent amount of the Loan proceeds will be allocated to eligible commercial property projects in Romania according to the Company's green loan framework.
Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director, Globalworth, commented: "We are delighted, through this Loan, to be extending our collaboration with the IFC. It is our first green loan since we launched our inaugural green bond back in 2020 and we believe it firmly demonstrates the sustainability of the Globalworth business and the markets in which Globalworth operates."
For further information visit www.globalworth.com or contact:
Enquiries
Stamatis Sapkas Tel: +40 732 800 000
Group CFO
Panmure Gordon (Nominated Adviser and Broker) Tel: +44 20 7886 2500
Alina Vaskina
About Globalworth / Note to Editors:
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Poland and Romania. Globalworth acquires, develops and directly manages high-quality office and industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 240 professionals across Cyprus, Guernsey, Poland and Romania, a combined value of its portfolio is €3.2 billion, as at 31 December 2021. Approximately 95.9% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of over 660 national and multinational corporates. In Poland Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in Romania its assets span Bucharest, Timisoara, Constanta, Pitesti, Arad and Oradea.
For more information, please visit www.globalworth.com and follow us on Facebook, Instagram and LinkedIn.