Globe Trade Centre S A : GTC with almost EUR 400 m of financing and refinancing in the first half of 2017

• Refinancing of existing project loans of EUR 221.5 m
• New construction loans of EUR 96 m
• Euro denominated bonds of EUR 68.5 m

It took GTC, a leading CEE real estate investor and developer, only the first 6 months of 2017 to refinance and conclude loans for almost EUR 400 m through euro bonds offering, project loans and construction loans.

The concluded loan agreements for financing and refinancing of the company's 8 projects amounted to more than EUR 300 m. Among this year's deals, GTC signed a binding term sheet with Banca Intesa Beograd, VUB and PBZ for EUR 64 m for the financing of Ada Mall in Belgrade and a construction loan for GTC White House in Budapest for EUR 26 m with Raiffeisen Bank. Among largest refinancing deals, GTC has agreed the facility for City Gate for EUR 84 m with Erste Bank, the facility for Korona Office Complex for EUR 46 m with BZWBK and facility for Avenue Mall Zagreb for EUR 50 m.

What's more, only in June 2017, GTC completed a EUR 40 m prospectus-exempt public offering of 3-year euro denominated bonds to be listed on Catalyst, which adds up to approximately EUR 70 m since the beginning of the year and is used amongst other to replace more expensive debt.

'We did not say the last word yet. Thanks to the expansion of the company's operations and development we continue to secure long term financing through new bonds, financing and refinancing activity. We continue to take advantage of the current low interest levels to significantly improve the costs of our debt, while optimizing the leverage ratio.'- commented Erez Boniel, GTC's CFO.