Financed ProjectsGlobalworth II Real Estate Financing

Identification Code:

OP/24/0016

Total Operation Cost:

333.350.400

Maturity:

72 months

Operation Status:

Description and Purpose of the Operation:

Investing EUR 28 million in Globalworth EUR 333 million bond issue. Globalworth is one of the leading real estate groups active in Romania. The proceeds from BSTDB’s participation will be used to replace the existing Green bonds of the Bank maturing in 2026 that was to finance the construction of office buildings in Bucharest, Romania.

Countries of Operation:

Romania (100,00 %)

Financial Product:

Loans

Sector:

Real Estate

Domain:

Private

Borrower/Client:

Global Real Estate Investments Limited

Co-Financiers/Participants:

n.a.

Guarantors/Sponsors:

n.a.

Developmental and Regional Cooperation Impact:

The project will have favorable economic benefits for the Romanian economy, like additional tax revenue gains from increased economic activity, employment creation, improvement in competitiveness, and multiplier effects for other parts of the economy in Romania. It will also, bring-in development impact and promote cooperation among member states via investments through real estate tenants and cash-flow, indirectly, and through spill-over effect.

Environmental Classification and Impact (summary):

Environmental and social (E&S) Category B operation. The E&S issues associated with Globalworth’s activities are limited in nature and may be readily identified and addressed through generally accepted performance standards, guidelines and design criteria for construction and operation of commercial buildings. Investments in green buildings such LEED and BREEAM certified are regarded as climate financing activities due to the potential such investments have to limit the GHG emissions from buildings and make them more climate resilient that is to better withstand the impacts of climate change.

Operation Leader:

General Industries, Transport, Tourism 2

E-mail:

gitt2@bstdb.org