Cavatina Holding S.A., one of the largest Polish real estate development groups, signed a €270 million credit agreement on September 23 with a consortium of international banks. The financing will be provided by Erste Group Bank AG (Vienna), Landesbank Baden-Württemberg (Stuttgart), and Raiffeisenlandesbank Niederösterreich-Wien AG (Vienna).
According to the company, the vast majority of the funds – €237.5 million and PLN 12.5 million – will be allocated to refinance existing debt on selected office investments within the Group’s portfolio.
Cavatina Holding representatives emphasized that this agreement marks the largest office asset refinancing transaction in history across Poland’s regional markets.
“With this transaction, we consolidate our existing office financing, which allows us to optimize the debt structure and reduce financing costs. It gives us greater operational comfort and the ability to continue expanding through new investments. The agreement also reflects the trust that financial institutions place in our business model and strategy,” said Daniel Draga, CEO of Cavatina Group.
The loan will be repaid in quarterly installments starting December 31, 2025, with full repayment due no later than December 31, 2030. The interest rate is set at 3M EURIBOR plus the banks’ margin.
The disbursement of the credit facility is subject to the fulfillment of certain conditions precedent. Wolf Theiss acted as legal advisor in the process, while Centuria Investment & Corporate Advisory served as financial advisor.
Source: CEO.com.pl
