Italian retail specialist IGD SIIQ has been granted a EUR 30 mln, five-year credit facility by lender Intesa SanPaolo at a cost of 310 basis points over the three-month Euribor rate.
Italian retail specialist IGD SIIQ has been granted a EUR 30 mln, five-year credit facility by lender Intesa SanPaolo at a cost of 310 basis points over the three-month Euribor rate.
'In a context where many businesses continue to have problems accessing credit, IGD confirms its high standing with the Italian banking system and with this transaction further reinforces the medium/long-term portion of its debt which already reached 78.6% at end-2011,' said CEO Claudio Albertini.
The credit line will be used to finance more than 60% of the investments foreseen for 2012, he added.
IGD is an Italian real estate investment trust specialised in shopping centres. Headquartered in Bologna, the group is active in Italy and Romania with a portfolio valued at roughly EUR 2 bn.
