"Hansabanka" and "Latvijas Krajbanka" to issue loan for new "Domina Shopping" center
The joint-stock companies "Hansabanka", "Latvijas Krajbanka" and Estonia^apostrofs;s "Hansapank" will issue a syndicated loan for construction of the "Domina Shopping" retail center on the territory of the former VEF factory.
The joint-stock companies "Hansabanka", "Latvijas Krajbanka" and Estonia's "Hansapank" will issue a syndicated loan for construction of the "Domina Shopping" retail center on the territory of the former VEF factory.
"Pro Kapital" representative in the Baltic countries, Paolo Vittorio Michelozzi, told reporters that the EUR 21 million loan would be taken for a period of five years, repaying the loan would begin after launching the shopping center.
This is the largest loan ever issued to a shopping center in Latvia, said Maris Mancinskis, director at "Hansabanka Markets".
The loan could be raised yet - both by attracting other banks or continuing cooperation of the above banks, Mancinskis said.
Michelozzi said humorously that the loan interest rate is too high and this is a good deal for "Hansabanka". Michelozzi is glad that the loan will be issued by Latvian banks because it is the company's strategy to rely on local resources as much as possible, including financial resources.
Overall, USD 60 million are to be invested in "Domina Shopping". 40 percent of these will be covered by a loan issued by the banks, the remaining 60 percent will be invested by "Pro Kapital" itself. So far, about USD 7 million have been spent on reconstruction of the center.
As reported, "Domina Shopping's" total area will be 110,000 square meters, including an area of 40,000 square meters for commercial operations. The center is to open doors next fall.
The Lithuanian retail chain "Vilniaus Prekyba" will be the major lessee at "Domina Shopping", it will occupy over 11,000 square meters.
Zaiga Barvida LETA
Copyright © LETA
"Pro Kapital" representative in the Baltic countries, Paolo Vittorio Michelozzi, told reporters that the EUR 21 million loan would be taken for a period of five years, repaying the loan would begin after launching the shopping center.
This is the largest loan ever issued to a shopping center in Latvia, said Maris Mancinskis, director at "Hansabanka Markets".
The loan could be raised yet - both by attracting other banks or continuing cooperation of the above banks, Mancinskis said.
Michelozzi said humorously that the loan interest rate is too high and this is a good deal for "Hansabanka". Michelozzi is glad that the loan will be issued by Latvian banks because it is the company's strategy to rely on local resources as much as possible, including financial resources.
Overall, USD 60 million are to be invested in "Domina Shopping". 40 percent of these will be covered by a loan issued by the banks, the remaining 60 percent will be invested by "Pro Kapital" itself. So far, about USD 7 million have been spent on reconstruction of the center.
As reported, "Domina Shopping's" total area will be 110,000 square meters, including an area of 40,000 square meters for commercial operations. The center is to open doors next fall.
The Lithuanian retail chain "Vilniaus Prekyba" will be the major lessee at "Domina Shopping", it will occupy over 11,000 square meters.
Zaiga Barvida LETA
Copyright © LETA
