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Globalworth Real Estate Financing

Romania | Real Estate

Identification Code:: OP/18/0041
Total Operation Cost:: 400.000.000 EUR
Maturity:: 72 months
Operation Status:: BSTDB Approved Amount – Approval Date

40.000.000 EUR – 08 Feb 2019
: BSTDB Signed Amount – Signed Date

-28.000.000 EUR – 25 Apr 2024

40.000.000 EUR – 22 Jul 2020
: Status:
Cancelled
Description and Purpose of the Operation:: Financing of EUR 35 million to one of the leading real estate groups active in Romania, Globalworth. The financing will be provided through Globalworth's inaugural Green Bond under its Euro Medium Term Note Program. BSTDB proceeds will be used to finance the construction of office buildings in Bucharest, Romania.
Countries of Operation:: Romania (100,00%)
Financial Product:: Loans
Sector:: Real Estate
Domain:: Private
Borrower/Client:: Globalworth Real Estate Financing
Co-Financers/Participants:: n.a.
Guarantors/Sponsors:: n.a.
Developmental and Regional Cooperation Impact:: The project will have favorable economic benefits for the Romanian economy, like additional tax revenue gains from increased economic activity, employment creation, improvement in competitiveness, and multiplier effects for other parts of the economy in Romania. It will also, bring-in development impact and promote cooperation among member states via investments through real estate tenants and cash-flow, indirectly, and through spill-over effect.
Environmental Classification and Impact:: Environmental and social (E&S) Category B operation. The E&S issues associated with Globalworth’s activities are limited in nature and may be readily identified and addressed through generally accepted performance standards, guidelines and design criteria for construction and operation of commercial buildings. Investments in green buildings such LEED and BREEAM certified are regarded as climate financing activities due to the potential such investments have to limit the GHG emissions from buildings and make them more climate resilient that is to better withstand the impacts of climate change.
Operation Leader:: General Industries, Transport, Tourism 2
E-mail:: gitt2@bstdb.org