Bank facility signed with UBS

RNS Number : 0694A

Globalworth Real Estate Inv Ltd

14 February 2014

 



Globalworth Real Estate Investments Limited

Globalworth signs Euro 65m bank facility with UBS

Guernsey, 14 February 2014: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or "the Company"), the real estate investment company targeting opportunities in Romania and the broader SEE and CEE regions, is pleased to announce that it has signed a short-term holding level bank debt facility for up to Euro 65 million with UBS. The arrangement of this facility is consistent with the Company's stated plans to use debt financing to improve returns on investments.

Dimitris Raptis, Deputy CEO and Chief Investment Office of the Company, said: "The granting of this facility by one of the world's largest financial institutions constitutes a milestone in the development of Globalworth's portfolio.  This step underscores the management of Globalworth's belief in the future prospects of the Company".  

William Gallagher, Co-Head of Special Situations and Emerging Markets Lending in EMEA at UBS, said "Through the provision of this debt facility, UBS is pleased to support Globalworth's development plans and to help it achieve its ambitions in the years to come."

For further information visit www.globalworth.com or contact:  

EastWest Partners (Financial Adviser)

David Hill                                                                                       Tel: [phone]

Scott Evans                                                                                    Tel: [phone]

Panmure Gordon (Nominated Adviser)                            Tel: [phone]

Nicola Marrin

Freddy Crossley

Cantor Fitzgerald Europe (Joint Broker)                           Tel: [phone]

Rick Thompson

David Porter

Milbourne (Public Relations)                                               Tel: [phone]

Tim Draper

UBS                                                                                                  Tel: [phone]

Stephanie Aneto

About Globalworth:

Globalworth Real Estate Investments Ltd is a real estate investment company founded by real estate investor and developer Ioannis Papalekas to take advantage of investment opportunities in Romania and the broader SEE and CEE regions. The company is Guernsey incorporated and registered as a closed-ended collective investment scheme by the Guernsey FSC. The Company's shares were admitted to trading on AIM in July 2013.

The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania and the broader SEE and CEE regions in search of higher yielding investments. As a result, Romania and the broader SEE and CEE regions should, in due course, become more attractive destinations for a wide investor audience. Globalworth anticipates holding an early mover advantage in these markets and benefitting from this gradual shift in investor sentiment.

 

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