Romanian real estate group Iulius gets EUR 410 mln syndicated refinancing
Iasi-based real estate company Iulius and partners Atterbury Europe obtained a refinancing loan in the amount of EUR 410 mln from a syndicate of banks, including banks in Erste group, OTP group, as well as Austrian bank Raiffeisenlandesbank Niederösterreich-Wien.
The loan covers the nationwide network of Iulius Mall regional shopping centres in Iași, Cluj-Napoca, Suceava and Timișoara and supports the long-term investment plans of Iulius company.
The move takes place before the company approaches a new series of major projects, including the half-billion euros reconversion project envisaging the industrial site Carbochim in Cluj-Napoca.
“This is a landmark transaction for the Romanian real estate market by virtue of its volume and characteristics, which offer a viable alternative to the capital market,” said Marius Perșenea, Chief Operating Officer of the Romanian real estate company.
(Photo source: the company)