Iulius Company, together with partners Atterbury Europe, recently signed a 410 million Euro financing agreement for the nationwide network of Iulius Mall regional shopping centers in Iași, Cluj-Napoca, Suceava and Timișoara. The loan supports the long-term investment plans of the developer toward consolidating its projects’ regional market leader status in the retail and entertainment segment, according to Business-Review.eu.
The 410 million Euro loan contracted by Iulius Company is a long-term syndicated loan refinancing granted by Erste Group Bank AG, Banca Comercială Română S.A., Raiffeisenlandesbank Niederösterreich-Wien AG, OTP Bank Nyrt, and OTP Bank Romania S.A. Wolf Theiss, one of the largest law firms in Central, Eastern and South-Eastern Europe, provided the legal framework for conducting this transaction.
“This is a landmark transaction for the Romanian real estate market by virtue of its volume and characteristics which offer a viable alternative to the capital market. On the one hand, it certifies the financing parties’ confidence in the projects of IULIUS Company that have grown into sustainable and recognized regional centers of attraction in terms of shopping, business and leisure. On the other hand, it certifies our loyalty to and trust in banks as business partners, which are essential values in our organization. The new loan is geared towards implementing the corporate goals in the development strategy of the company,” said Marius Perșenea, Chief Operating Officer.
As of 2017, the Iulius Mall regional shopping mall network in Iași, Suceava, Cluj-Napoca and Timișoara (an integral part of the Iulius Town Timișoara mixed-use project) is owned by companies Iulius and Atterbury Europe based on a 50-50 joint venture partnership.
