Appeninn Asset Management Holding Public Limited Company, based in Budapest, has informed investors in an extraordinary announcement on the website of the Budapest Stock Exchange that the Polish project companies owned by Appeninn Project-EGRV Ltd. have signed a loan agreement with Erste Group Bank AG.
The purpose of the loan agreement is to finance the acquisition of the Polish Dekada Group’s retail park portfolio comprising 11 properties located in Poland.
Utilization of the loan facility is conditional upon the fulfillment of the disbursement conditions set out in the loan agreement and the successful closing of the transaction.
Under the loan agreement, Erste Group Bank AG will provide the companies owned by Appeninn Project-EGRV Ltd. with an investment loan of up to EUR 60,000,000 (sixty million euros) with a term of 5 years, as well as a loan facility with a term of up to 12 months to finance the payment of related VAT.
Appeninn Asset Management Holding Plc. will disclose any further material information relating to the transaction in a separate extraordinary announcement, in accordance with the applicable legal requirements, the extraordinary announcement concludes.
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