News
01/18/2010
Banks Granted a Syndicated Loan for Building the Nová Karolina Shopping Centre in Ostrava
A syndicate of banks comprising of Ceska Sporitelna, ČSOB,
HYPO Investmentbank AG, and KBC Bank provided a syndicated loan of EUR
98,475,000 (approx. CZK. 2.58 bn*) to the New Karolina Shopping
Center Development, of the Multi Development group, for building the Nová
Karolina Shopping Centre in the very centre of Ostrava. ČSOB is the
coordinating bank and security agent, while Ceska Sporitelna is the facility
agent.
The loan will be due for payment 5 years from the signing of the
agreement, and the security conditions constitute a part of the contractual
stipulations between the syndicate and the development company.
“We very much value the helpful approach of all of the banks
involved. Their interest and support confirms the exceptionality of this
particular project as well as the fact that on the development market there is
still room for the implementation of high-quality projects, in spite of the
economic situation,” noted Luboš Kočí, CEO of Multi Development Czech
Republic.
The construction of Ostrava’s Nová Karolina is one of the
largest urban development projects in the country. The tenants who will
use the premises once they are completed include major names such as Ahold,
Palace Cinemas, C&A, Intersport, Datart, Marks & Spencer, and New
Yorker.
* Exchange Rate: ČNB Mid 26,165 as of 14 .January.
2010
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