CPI PROPERTY GROUP
CPI PROPERTY GROUP obtained financing of EUR 117.7 million for its shopping centers in the Czech Republic
CPI PROPERTY GROUP / Key word(s): Financing CPI PROPERTY GROUP obtained financing of EUR 117.7 million for its shopping centers in the Czech Republic Luxembourg, 19 March 2015- CPI PROPERTY GROUP has obtained three investment loans and two development loans in an aggregate amount of EUR 117.7 million. The funds will be used to refinance and increase the existing investment loans and also to finance construction of a new shopping center in the Czech Republic. An investment loan in the amount of amount EUR 36.5 million is allocated for the refinancing of shopping center Olympia Teplice and another investment loan in the amount of EUR 27.9 million is allocated for the refinancing of shopping center Olympia Mladá Boleslav. These syndicate loans were provided in equal portions by bank club composed of UniCredit Bank, which is the arranger and security agent, and Komerční banka. The second loan portfolio for IGY shopping center in Ceske Budejovice is allocated as follows: EUR 30 million investment loan will be used for the refinancing of the existing loan, EUR 9 million development loan will be used for the modernization and expansion of a cinema multiplex to be built in the current office space, and EUR 14.3 million development loan will be used for the construction of a new IGY Center 2 with approximately 8,500 square meters of new retail space. Estimated construction time is 18 months, with the opening expected in spring 2017. This loan portfolio is again syndicated by bank club composed of Komerční banka, which is the arranger and security agent, and UniCredit Bank. Contact:Kirchhoff Consult AG Sebastian Bucher Herrengraben 1 D-20459 Hamburg T +49 40 60 91 86 18 F +49 40 60 91 86 60 sebastian.bucher@kirchhoff.de 2015-03-19 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | CPI PROPERTY GROUP | |
40, rue de la Vallée | ||
L-2661 Luxembourg | ||
Grand Duchy of Luxembourg | ||
Phone: | +49 (0)30 440123120 | |
Fax: | +49 (0)30 390 93 199 | |
E-mail: | InvestorRelations@gsg-group.de | |
Internet: | www.gsg-group.de | |
ISIN: | LU0251710041 | |
WKN: | A0JL4D | |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart | |
End of News | DGAP News-Service |
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