New Financing Facilities with the Erste Group

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 €160 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 €50 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 €215 million RCF.

The second facility is a €110 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 Chief Financial Officer	Tel: [phone]
Panmure Gordon (Nominated Adviser and Broker) Alina Vaskina	Tel: [phone]

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 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 updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.

 

END

 

 

MSCKXLBLLLLEFBD