January 12 (SeeNews) - London-based real estate company Globalworth said on Thursday that it has borrowed 110 million euro ($118.2 million) from Banca Comerciala Romana (BCR), part of Austria's Erste Group, to finance its logistics and light-industrial portfolio in Romania.
The asset-secured facility has a ten-year term, Globalworth said in a press release.
“Liquidity remains a key focus for us, so we are delighted to have obtained further flexible, committed capital on favourable terms, notwithstanding the prevailing macroeconomic environment," said Mihai Zaharia, head of investments Romania and group capital markets director at Globalworth.
"Also, in response to market conditions, the group may consider certain capital market transactions, including repurchasing issued bonds or shares in the upcoming reporting periods," Zaharia added.
The company also signed a separate 50 million euro unsecured revolving credit facility with Erste Group Bank, which has a maturity of three years.
Globalworth is real estate company active in Central and Eastern Europe which acquires, develops, and directly manages offices and industrial real estate assets. In Romania, the company is present in the cities of Bucharest, Timisoara, Constanta, Pitesti, Arad, Oradea and Targu Mures.
($=0.9303 euro)