IGD- Euro 135 million mortgage loan
27 November 2013 - 8:30AM
Italian Regulatory (Text)
PRESS RELEASE
IGD SIIQ SPA Â EURO 135 MILLION MORTGAGE LAON
Bologna, 27 November 2013 Â Yesterday, Immobiliare Grande
Distribuzione SIIQ S.p.A. (the "Company") has entered into a
mortgage loan agreement with BNP Paribas (Italian Branch) for an
amount equal to EUR 135 million. The loan will be used to repay the
remaining EUR 107.1 million of the EUR 230 million Convertible Bond
(3.50 per cent due 28 December 2013), which was partly repaid via
an exchange offer on 18 April 2013. The balance of the funds will
be used to support the development plans of the Company. The loan
has a five-year maturity and a spread of 425 basis points over
3-Month Euribor. The drawdown will occur within 15 days of the
signing date. The loan agreement contains typical provisions for a
transaction of this type. "The confidence placed in us by a leading
European bank such as BNP Paribas confirms the good standing of the
Company and represents an excellent starting point for next year's
initiatives" said Claudio Albertini, Chief Executive Officer of IGD
- Immobiliare Grande Distribuzione SIIQ S.p.A.
IGD - Immobiliare Grande Distribuzione SIIQ S.p.A.
Immobiliare Grande Distribuzione SIIQ S.p.A. is one of the main
players 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 circa 1,895.9 million at 30 June 2013, 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 INVE STOR 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 Cristina Fossati, Federica Corbeddu
+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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