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Allianz Group, ING Bank and CTP Invest agree on EUR 160 million loan

27

10

2017

CTP Group, Allianz Group and ING Bank have signed a new EUR 160 million syndicated loan for financing of a portfolio of industrial properties in the Czech Republic. This loan serves both to refinance existing loans from a group of CEE banks and to finance new projects which have been completed in 2017. The refinancing with Allianz and ING is part of CTP´s ongoing strategy to extend its network of financing partners, including seeking partners outside the CEE region.

"We are very pleased with today’s closing between CTP, the Allianz and ING. This new credit confirms CTP's efforts to expand our portfolio of financial partners to Western European institutions," said Zdeněk Raus, Financial Manager at CTP, who participated in the negotiations and further execution of this loan together with Radek Zeman, CFO of CTP. The legal part of the transaction was led by Markéta Večeřová, Corporate Lawyer at CTP.

“We have worked very closely with our colleagues from Allianz and ING on this loan and I am delighted that our intensive cooperation was concluded with the successful closing. We are already looking forward to expanding our cooperation on other projects in the future. The conclusion of this agreement confirms the CTP’s intention to continue institutionalize our financing portfolio which now exceeds EUR 4 billion as well as the dominant position of our company on the market,” stated Markéta Večeřová, Corporate Lawyer at CTP.

“We are very happy to be able to support the growth strategy of our longstanding client CTP through this transaction and to enhance our business relationship with Allianz in a concerted effort. The transaction shows our commitment to our clients as well as the CEE-region where we have intensified our real estate banking activity in a co-operation between our Corporate Clients team in Amsterdam and the local branch of ING in Prague” said Arie Hubers, Managing Director of ING Real Estate Finance.