CTP Q1 Financing Deals Exceed EUR194 Million
During Q1 2014, CTP signed agreements with five banks resulting in new financing or refinancing of projects with a total volume of EUR 194 million.
Recent transactions include a EUR 92 million refinancing package with long-term partner Česká spořitelna, part of Erste Bank Group, as well as a EUR 20.5 million agreement with VUB, a bank of Intesa Sanpaolo, who now hold EUR 30 million in loans, up from EUR 5.6 million in 2012. These two transactions confirm the parties' ongoing cooperation and reaffirm their long-term financial relationship. Other transactions concluded in the quarter include EUR 28 million refinanced with Raiffeisenlandesbank W/NÖ, EUR 52 million refinanced with Helaba, and a new transaction with Komerční Banka. “We are pleased with the ongoing negotiations and happy with the progress of refinancing our portfolio with both current as well as new financial partners,” stated Radek Zeman, CTP CFO.
During 2013 and Q1 2014, CTP has been able to refinance nearly 80% of its loan portfolio with both existing and new financial partners.