The value of the credit facility increase is EUR20 million, split between OCO1 (EUR7.1 million) and OCO2 (EUR12.9 million).
“The increase of the credit facility was granted by Banca Comerciala Romana S.A. and BRD Groupe Société Générale S.A and has the purpose of reimbursement of shareholders loans as well as covering other costs related to the transaction for the increase of the credit facility. The maturity date of the loan remains unchanged,” the developer said in its report to the Bucharest Stock Exchange.
In 2021, One signed an agreement for a EUR78 million credit facility for the first and second phases of One Cotroceni Park Office and the banks that provided the funding were Banca Comerciala Romana, BRD-Groupe Société Générale and Erste Bank.
Regarded as one of the biggest urban regeneration projects in Bucharest, One Cotroceni Park is developed on a 5.8-hectare plot, on the former site of Ventilatorul. One Cotroceni Park 1 and One Cotroceni Park 2 are already 94% and 90% leased.
(English version by Loredana Fratila-Cristescu)