Credit Deal gives Atrium €150m Retail War Chest

Posted on 16 October, 2015 by Cliff Goodwin

Atrium European Real Estate, the central and eastern European shopping centre developer and operator, has signed a €125 (£93.5m) refinancing deal.

ID:95754785

The five-year unsecured arrangement — made up of €100m (£75m) in new credit together with the extension of a current €25m (£19m) facility — will be provided by a syndicate of the global banks: ING Bank NV, Citibank NA and HSBC Bank.

In an “ad hoc” statement the Jersey-headquartered company confirmed the transaction will give Atrium €150m (£112m) of undrawn revolving credit facilities.

Commenting on the transaction, Atrium’s chief financial officer, Ryan Lee, said: “With this new revolving credit facility we have taken advantage of the continued current favourable credit market conditions to improve the company’s financial flexibility and extend the average maturity of our debt at improved costs.”

Atrium is dual-listed on the Vienna and Euronext Amsterdam Stock Exchanges. In a six-month statement, issued in June this year, the company confirmed it owned a total of 82 primarily food-anchored retail properties and shopping centres  across seven countries, with a total market value of €2.7bn (£1.9bn) .

The 13m sq ft of retail space it controls — predominantly in Poland, the Czech Republic, Slovakia and Russia — are, with one exception, all managed by Atrium’s internal team of retail real estate professionals and generate more than €103m (£76m)  of annual gross rent.

In addition, Atrium has a €0.3bn (£224m) portfolio of development and land offering long term future value potential.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants