Globalworth signs 85 million Euro loan agreement with the IFC

Globalworth announces loan agreement for 85 million Euro with the International Finance Corporation (“IFC”), which is a member of the World Bank Group.  The loan is for a period of 6 years between Globalworth Holdings Cyprus Limited (a subsidiary of the company) and the IFC as the lender, with the Company acting as parent company guarantor.  

The Board of Globalworth says that the loan will further strengthen the company’s liquidity position and provide the group with flexible capital at attractive terms. In accordance with its terms, the loan or an equivalent amount will be allocated to eligible commercial property projects in Romania according to the company’s green loan framework.

“We are delighted, through this Loan, to be extending our collaboration with the IFC. It is our first green loan since we launched our inaugural green bond back in 2020 and we believe it firmly demonstrates the sustainability of the Globalworth business and the markets in which Globalworth operates”, stated Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director, Globalworth.

IFC’s long-term funding will help the company—the largest office investor in Romania in terms of market value and gross lettable area—strengthen its liquidity position and achieve its environmental goals—100% of its commercial office portfolio to be green. The company has an investment property portfolio of modern and energy-efficient commercial property assets spread across Romania and Poland. About 90 percent of the company’s portfolio is comprised of environmentally friendly properties. In the face of uncertain market conditions exacerbated by the global pandemic and the recent war in Ukraine, IFC’s investment will further allow Globalworth to sustain operations, deliver investment projects, and launch new green projects in Romania.

“IFC strategy in Romania is focused on promoting a green, resilient and inclusive development. We are pleased to strengthen our partnership with Globalworth, leading developer of green buildings and signal confidence in Romania`s office sector at the exit of the COVID-19 crisis”, added Ary Naïm, IFC’s Regional Manager for Central and Southeast Europe.