Closing of EUR 30 million debt financing facility

RNS Number : 7563V

Globalworth Real Estate Inv Ltd

31 October 2014

 



31 October 2014

Globalworth Real Estate Investments Limited

("Globalworth" or "the Company") (AIM: GWI)

Closing of EUR 30 million debt financing facility for Tower Center International

Globalworth, the real estate investment company targeting opportunities principally in Romania, is pleased to provide an update on Tower Center International ("TCI"), its landmark office tower located in the heart of Bucharest's central business district.

Further to the disclosure in the 2014 interim results, the Company today announces that Banca Comerciala Romana (BCR), a member of Erste Group, has provided a EUR 30 million debt financing facility to TCI, which is currently debt free.  The proceeds from the financing will be used for general corporate purposes of the Company, including towards funding its current development projects and new asset acquisitions.

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

Panmure Gordon (Nominated Adviser and Joint Broker)              Tel: [phone]

Andrew Potts

Duncan Monteith

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

Rick Thompson

David Foreman

Milbourne (Public Relations)                                                                     Tel: [phone]

Tim Draper

About Globalworth:

Globalworth Real Estate Investments Limited 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 has been declared by the Guernsey Financial Services Commission to be a registered closed-ended collective investment scheme. 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 in search of higher yielding investments. As a result, Romania 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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