Construction Finance Facility Secured
August 13 2008 - 2:00AM
UK Regulatory
RNS Number : 1847B
Dawnay, Day Carpathian PLC
13 August 2008
Date: 13 August 2008
On behalf of: Dawnay, Day Carpathian PLC ("Carpathian" or "the Company")
Embargoed until: 0700hrs
Dawnay, Day Carpathian PLC
EUR 62,500,000 Construction Finance Facility secured for Romanian Development
Carpathian (AIM: DDC), the Central and Eastern Europe retail property investment company, is pleased to announce that it has secured a
construction finance facility of EUR 62,500,000 from MKB Bank to fund the development of Atrium Center Arad, its city centre retail project
in Arad, Romania. Atrium Center Arad is one of four retail projects that Carpathian is currently developing in Romania. It is due for
completion in 2009.
Commenting on the financing, Rupert Cottrell, Chairman of Carpathian, said:
"We are delighted to have secured this construction finance facility from MKB Bank for this key project in Romania. This further
reinforces the market's confidence in our approach and the quality of the assets we are developing."
- Ends -
Enquiries:
Carpathian Asset Management 020 3178 2892
LimitedPaul Rogers / Balazs Csepregi
Numis Securities Limited Nominated 020 7260 1000
Adviser:Anthony Richardson/Nick
Westlake Corporate Broking:Charlie
Farquhar
Redleaf CommunicationsEmma Kane/Adam 020 7822
Leviton/Henry Columbine 0200carpathian@
redleafpr.com
Notes to Editors:
* Carpathian was created in 2005 for the purpose of investing in Eastern European commercial real estate.
* Its primary focus is on shopping centres, supermarkets and retail warehousing in several target countries in Central and Eastern
Europe including the Czech Republic, Hungary, Poland, Romania and the Baltics.
* Carpathian Asset Management Limited is the Property Investment Adviser to Carpathian. It is responsible for identifying
acquisition targets, managing transactions, developments and portfolios within Central and Eastern Europe.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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