Wednesday, June 3, 2020
Home News Finance Contera secures €155 million loan from two banks

Contera secures €155 million loan from two banks

Czech industrial developer Contera obtained a syndicated loan from ČSOB and Komerční banka in the total amount of €155 million. Most of the funds will be committed to refinancing the developer’s portfolio of warehouses and production halls in the Czech Republic and Slovakia, which are owned and operated by Contera together with US investment company TPG Capital. The remainder of the loan is allocated to the development of new projects.

The portfolio of existing and planned Contera Parks includes assets in Hustopeče, Mošnov, Ostrava City, Ostrava D1 and Teplice in the Czech Republic and in Bratislava, Prešov and Svätý Jur in Slovakia. The portfolio comprises a total of 257,400 sqm of space with the possibility of expansion by another 196,600 sqm. In February 2020, the developer acquired an 8 ha site from Uniport for the development of Contera Park Hustopeče in South Moravia, where Contera is initially planning a 30,000 sqm two-building complex.

“The consolidation of our credit lines from various industries, segments and locations into one well risk-diversified real estate portfolio has proven to be a good strategy and also sufficiently creditworthy collateral for obtaining this development financing. We will employ these funds with the maximum prudence and effectiveness,” commented Daniela Fraňková, CFO of Contera.

Baker McKenzie in partnership with White & Case provided legal advice for the transaction.

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