“These facilities are part of the ongoing strategic management of our liquidity and debt management initiatives, further strengthening the Globalworth’s liquidity position”, the company said in a statement.
The first contract is a EUR50 million unsecured Revolving Credit Facility, with a three-year term, which has been structured to generally align with the company’s existing Euro Medium Term Note (EMTN) program and its existing syndicated EUR215 million Revolving Credit Facility.
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.
“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 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 and BCR for the close and successful cooperation over the years and to our continued partnership in the future”, said Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director, Globalworth.
The company’s portfolio was worth a total EUR3.2 billion on June 30, 2022. Income-generating assets, particularly in the office lease sector toward some 660 national and multinational companies, account for almost 96.3% of the portfolio.
In Romania, Globalworth is present in Bucharest, Timisoara, Targu Mures, Constanta, Pitesti, Arad and Oradea. In Poland, its properties are located in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice.