The Company has announced the approval of a Bond Loan in the principal amount of up to €65,000,000.00 to REDS S.A., which will be non-convertible into equity. The loan will have a maturity of seven years, with the Company providing full underwriting for the entire amount. The proceeds are intended to partially finance the acquisition of additional real estate assets, in accordance with the Company’s strategic investment objectives and growth plan.
The interest rate on the Bond Loan will be based on the one-year EURIBOR, plus a margin of 2.65%, applied to the nominal value of the Bonds.
The loan will be secured by a pledge and assignment of the proceeds from the sale of REDS S.A.’s real estate assets in Bucharest, Romania. Additionally, the loan will be further secured by the registration of a pre-mortgage over the new properties that REDS S.A. intends to acquire, as specified in the Bond Loan Agreement.
Furthermore, the Company’s shareholders will be invited to vote at an Extraordinary General Meeting, scheduled for December 5, 2024, to approve the issuance of the aforementioned Bond Loan. Shareholders will also be asked to approve the acquisition of 100% of the issued shares of "ATHENS PROPERTIES BV," at a purchase price of €80,000,000. ATHENS PROPERTIES BV holds a portfolio of ten prime real estate assets, consisting of independent buildings strategically located in central Athens.
