CPI PROPERTY GROUP (“CPIPG”) announces the refinancing of IGY shopping centre located in Ceske Budejovice, Czech Republic. The new secured loan of EUR 60 million was provided by Komercni banka for a term of five years
“When we completed the redevelopment of IGY centre earlier this year, we saw an immediate positive effect on footfall and turnover,” said Martin Nemecek, CEO. “While our corporate strategy is firmly focused on unsecured financing and increasing the level of unencumbered assets, the loan pricing offered for IGY was extremely attractive and allows us to proactively manage our total interest costs.”