You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Romania's Impact unit borrows 24.4 mln euro for residential complex project

Author Mario Tanev
Romania's Impact unit borrows 24.4 mln euro for residential complex project antpkr/Shutterstock.com

BUCHAREST (Romania), October 16 (SeeNews) - Romanian real estate company Impact Developer & Contractor [BSE:IMP] said that it 99.99%-owned unit Bergamot Developments has taken out a loan from UniCredit Bank with a maximum value of 20.7 million euro ($22.8 million) plus a further 3.7 million euro in the form of a revolving credit facility.

Bergamot Developments will use the funds to finance the first stage of construction of the Luxuria Domenii Residence residential complex project in Bucharest, Impact Developer & Contractor said in a bourse filing on Tuesday.

The loan will cover about 65% of the total cost of the first stage of the project.

The loan, guaranteed by Impact Developer & Contractor, has to be repaid by August 31.

Impact Developer & Contractor shares closed 0.88% higher at 1.15 lei on the Bucharest Stock Exchange on Tuesday.

($ = 0.9061 euro)

 

Compare