IGD-A loan agreement for €30 million signed
16 März 2012 - 11:20AM
Italian Regulatory (Text)
PRESS RELEASE
IGD SIIQ SPA: A LOAN AGREEMENT FOR 30 MILLION SIGNED WITH INTESA
SANPAOLO S.P.A.
Bologna, 16 March 2012. IGD - Immobiliare Grande Distribuzione SIIQ
S.p.A. ("IGD" or the "Company"), leading owner and manager of
retail shopping centers in Italy and listed on the STAR segment of
the Italian Stock Exchange, has signed a loan agreement for a total
of 30 million with Intesa SanPaolo S.p.A which goes into effect
immediately.
The agreement is for a 5 year collateralized mortgage line of
credit indexed to the three month Euribor with a spread of 310 bps
loan. The facility provides for draw downs typical of similar
financing transactions.
"In a context where many businesses continue to have problems
accessing credit, IGD confirms its high standing with the Italian
banking system and with this transaction further reinforces the
medium/long term portion of its debt which already at 31/12/2011
reached 78.6%." Claudio Albertini, IGD Immobiliare Grande
Distribuzione SIIQ S.p.A.'s Chief Executive Officer stated. "This
line of credit will be used to finance more than 60% of the
investments foreseen for 2012"
IGD - Immobiliare Grande Distribuzione SIIQ S.p.A.
Immobiliare Grande Distribuzione SIIQ S.p.A. is the main player in
Italy's retail real estate market: it develops and manages shopping
centers throughout the country and has a significant presence in
Romanian retail distribution. Listed on the Star Segment of the
Italian Stock Exchange, IGD was the first SIIQ (Società di
Investimento Immobiliare Quotata or real estate investment trust)
in Italy. IGD has a real estate portfolio valued at 1,924.65
million at 31 December 2011, comprised of, in Italy, 19
hypermarkets and supermarkets, 19 shopping malls and retail parks,
1 city center, 4 plots of land for development, 1 property held for
trading and an additional 7 real estate properties. Following the
acquisition of the company Winmark Magazine SA in 2008 15 shopping
centers and an office building, found in 13 different Romanian
cities, were added to the portfolio. An extensive domestic
presence, a solid financial structure, the ability to plan, monitor
and manage all phases of a center's life cycle: these qualities
summarize IGD's strong points. www.gruppoigd.it
CONTACTS INVESTOR RELATIONS CLAUDIA CONTARINI Investor Relations
+39 051 509213 claudia.contarini@gruppoigd.it ELISA ZANICHELI IR
Assistant +39 051 509242 elisa.zanicheli@gruppoigd.it
CONTACTS MEDIA RELATIONS IMAGE BUILDING Simona Raffaelli, Alfredo
Mele, Valentina Bergamelli +39 02 89011300 igd@imagebuilding.it
The press release is available on the website www.gruppoigd.it, in
the Investor Relations section, and on the website
www.imagebuilding.it, in the Press Room section.
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