Contera has secured a syndicated loan in the total amount of €155m from CSOB and Komercni banka. Most of the funds will be used for refinancing the warehouses and production halls portfolio in the Czech Republic and Slovakia. The second part is intended for the development of new projects.
"We have been working on the new credit terms since last autumn, and we consider the fact that we finished everything in this difficult time for everyone to be a great success, as well as an expression of confidence in the vision of our company. Thanks to the refinancing of our previous loans, we have acquired conditions that provide us with stability. At the same time, we received funding for the development of our new projects, " said Dusan Kastl, partner and executive director of Contery.
“Consolidation of partial credit lines from various industries, segments and locations into one well-risk-diversified real estate portfolio simply proved to be a good strategy and a sufficiently creditworthy collateral to obtain interesting development financing. We will use these resources with maximum discretion and efficiency, " said Daniela Frankova, CFO of the company.