Iulius Group attracts EUR 400 million financing for the Rivus project

Rivus Investments, of which Iulius and partner Atterbury each hold 50%, has attracted financing of EUR 190.3 million, part of a EUR 400.6 million loan, from the European Bank for Reconstruction and Development. The money is intended for the development of the real estate project in Cluj-Napoca, which will be built in place of the Carbochim factory.

"The financing is structured as a senior secured loan, divided into two components: an "A Loan" worth up to EUR 122.8 million, granted directly by the bank from its own funds, and a "B Loan" of EUR 57.5 million, financed by participating commercial lenders. The loan is part of a larger financing, worth a total of EUR 400.6 million, within a club deal supported by several lenders in parallel," the EBRD announcement states.

The Rivus project will have a mix of functions such as: retail, cultural, office, entertainment, services, park and relaxation spaces and involves an investment of EUR 500 million.

Source: economica.net