Globalworth Real Estate Inv Ltd New Financing Facilities with the Erste Group (9144K)
December 23 2022 - 5:30AM
UK Regulatory
TIDMGWI
RNS Number : 9144K
Globalworth Real Estate Inv Ltd
23 December 2022
FOR IMMEDIATE RELEASE
23 December 2022
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
New Financing Facilities with the Erste Group
Globalworth, the leading office investor in Central and Eastern
Europe, is pleased to announce the signing of two new facilities
for an aggregate amount of EUR160 million.
These facilities are part of the ongoing strategic management of
our liquidity and debt management initiatives, further
strengthening the Company's liquidity position at attractive market
terms.
The first facility is a EUR50 million unsecured Revolving Credit
Facility ("RCF") with a three-year term, which has been structured
to generally align with the terms of Company's existing Euro Medium
Term Note (EMTN) programme and its existing syndicated EUR215
million RCF.
The second facility is a EUR110 million asset-secured financing
of the Company's logistics / light-industrial portfolio in Romania,
with a ten-year term.
Erste Group, through Erste Group Bank AG and Banca Comerciala
Romana SA , has provided both facilities, further strengthening our
relationship with one of our long-term financing partners.
Mihai Zaharia, Head of Investments Romania and Group Capital
Markets Director, Globalworth, commented: "Liquidity remains a key
focus for us, so we are delighted to have obtained further
flexible, committed capital on favourable terms, notwithstanding
the prevailing macroeconomic environment. Also, in response and
subject to market conditions, the Group may consider certain
capital market transactions, including repurchasing issued bonds or
shares in the upcoming reporting periods. I would also like to take
this opportunity to thank the Erste Group for the close and
successful cooperation over the years and to our continued
partnership in the future".
For further information visit www.globalworth.com or
contact:
Enquiries
Stamatis Sapkas Tel: +40 732 800 000
Chief Financial Officer
Panmure Gordon (Nominated Adviser and Tel: +44 20 7886 2500
Broker)
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 EUR3.2 billion, as at 30 June 2022. Approximately
96.3% 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.
IMPORTANT NOTICE: This announcement has been prepared for the
purposes of complying with the applicable laws and regulations of
the United Kingdom and the information disclosed may not be the
same as that which would have been disclosed if this announcement
had been prepared in accordance with the laws and regulations of
any jurisdiction outside of the United Kingdom. This announcement
may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may
be identified by the use of forward-looking terminology, including
the terms "targets", "believes", "estimates", "plans", "projects",
"anticipates", "expects", "intends", "may", "will" or "should" or,
in each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. These forward looking
statements include all matters that are not historical facts and
involve predictions. Forward-looking statements may and often do
differ materially from actual results. Any forward-looking
statements reflect the Company's current view with respect to
future events and are subject to risks relating to future events
and other risks, uncertainties and assumptions relating to the
Company's business, results of operations, financial position,
liquidity, prospects, growth or strategies and the industry in
which it operates. Forward-looking statements speak only as of the
date they are made and cannot be relied upon as a guide to future
performance. Save as required by law or regulation, the Company
disclaims any obligation or undertaking to release publicly any
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announcement that may occur due to any change in its expectations
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