DGAP-News: ZAO Raiffeisenbank opens a USD 55 million long-term credit line for IMMOFINANZ Group's Fifth Avenue Shopping Mall in Moscow
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate
ZAO Raiffeisenbank opens a USD 55 million long-term credit line for
IMMOFINANZ Group's Fifth Avenue Shopping Mall in Moscow
14.11.2011 / 08:30
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IMMOFINANZ Group, one of the largest foreign property investors in the
Moscow retail sector, has recently signed a USD 55 million long-term credit
agreement with ZAO Raiffeisenbank. The debt-facility will be granted for
the Fifth Avenue Shopping Mall, one of the four existing shopping-centres
that form the quality portfolio of IMMOFINANZ Group in Moscow. The
successful deal with RAIFFEISEN Bank Russia is another step in optimizing
returns on a strong income-generating portfolio in Russia.
IMMOFINANZ Group signed a long-term credit agreement for the Fifth Avenue
Shopping Mall, with ZAO Raiffeisenbank. 'Following recently increased
volatility in the banking sector, our deal with ZAO Raiffeisenbank again
underlines the strength of our Russian portfolio. This agreement is another
important step in optimizing our financing structure which is based on a
defensive leverage approach. For quality properties like our fully rented
Fifth Avenue Shopping Mall, long-term debt financing is available at
comparatively reasonable terms and conditions from well-regarded financial
institutes', explained Eduard Zehetner, Chief Executive Officer of the
IMMOFINANZ Group.
'We are very glad to now have IMMOFINANZ Group as our client in Russia,
especially as the company has been a reliable partner of Raiffeisen Bank
International in Austria, and CEE for a long time', says Oxana Panchenko,
Board Member of ZAO Raiffeisenbank, Head of Corporate Banking and Corporate
Finance Directorate. 'Given the level and scale of the tasks set by
IMMOFINANZ Group in Russia, we hope that the deal will help the company to
realize its goals.'
Following other successful refinancing deals in Russia with high profile
institutional lenders, the IMMOFINANZ Group has now taken the next step
towards optimizing returns with this credit facility. The resulting
liquidity will be invested in selected projects in Russia to further
improve the market position of the IMMOFINANZ Group.
The Fifth Avenue Shopping Mall has been part of the IMMOFINANZ portfolio
since 2006. This quality neighbourhood centre, with approx. 21.200 sqm of
leasable area, is located in Shchukino, North-West Administrative District
of Moscow, a district with primarily residential character and approx.
800,000 residents. The Fifth Avenue Shopping Mall is fully let to Russian
and international quality tenants like Perekrestok, Cinema Park, Lady&Gentleman City, Henderson, Mothercare, Oggi, Esprit, Mexx, Profi Sport,
Gerry Weber, Geox, Burger King, Starbucks etc.
On the IMMOFINANZ Group
The IMMOFINANZ Group is one of the five largest listed property companies
in Europe and is included in the leading ATX index of the Vienna Stock
Exchange. Since its founding in 1990, the company has compiled a
high-quality property portfolio that now comprises more than 1,600
investment properties with a carrying amount of approx. EUR 8.4 billion.
The core business of the IMMOFINANZ Group covers the acquisition and
management of investment properties, the realisation of development
projects and the sale of objects. The IMMOFINANZ Group concentrates its
activities in the retail, office, logistics and residential segments of
eight regional core markets: Austria, Germany, Czech Republic, Slovakia,
Hungary, Romania, Poland and Russia. Further information under:
www.immofinanz.com .
On ZAO Raiffeisenbank
ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG.
Raiffeisenbank ranks 10th among the Russian banks in terms of assets, based
on Q3 2011 results (Interfax-CEA). According to the same Interfax-CEA data,
ZAO Raiffeisenbank ranked 5th in terms of private deposits and 6th with
regard to consumer lending.
Raiffeisen Bank International AG regards both, Austria, where it is a
leading corporate and investment bank, and Central and Eastern Europe (CEE)
as its home market. In CEE, RBI operates an extensive network of subsidiary
banks, leasing companies and a range of other specialised financial service
providers in 17 markets. RBI is the only Austrian bank with a presence in
both the world's financial centres and in Asia, the group's further
geographical area of focus. Around 60,000 employees service about 13.5
million customers through around 3,000 business outlets, the great majority
of which are located in CEE. Raiffeisen Bank International is a
fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG
(RZB). RZB indirectly owns around 78.5 per cent of the common stock, the
remainder is in free float. RBI's shares are listed on the Vienna Stock
Exchange. RZB is the central institution of the Austrian Raiffeisen Banking
Group, the country's largest banking group, and serves as the group head
office of the entire RZB Group, including RBI.
Contact:
For additional information contact:
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance&Investor Relations
IMMOFINANZ AG
M +43 (0)699 1685 7312
investor(at)immofinanz.com
Simone Korbelius
Investor Relations
IMMOFINANZ AG
T +43 (0)5 7111 2291
investor(at)immofinanz.com
MEDIA INQUIRIES
Sandra Bauer
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ AG
T +43 (0)5 7111 2292
M +43 (0)699 1685 7292
communications(at)immofinanz.com
A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com
End of Corporate News
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14.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 5 7111 - 2291
Fax: +43 (0) 5 7111 - 8291
E-mail: investor(at)immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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146076 14.11.2011
Themen in dieser Pressemitteilung:
zao-raiffeisenbank-opens-a-usd-55-million-long
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Unternehmensinformation / Kurzprofil:
Datum: 14.11.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 87176
Anzahl Zeichen: 8190
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Kategorie:
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