Globe Trade Centre S.A. (GTC) has agreed a reset of covenants in relation to project finance loans with a total amount of €97 million.
The successful closing of renegotiations with its lenders will result in the reclassification of these liabilities to long term liabilities, which will improve the Company’s cash flow profile.
GTC’s ability to resolve these technical issues in a timely manner and ensure continued access to financing at the project level, demonstrates the strength of GTC’s relationship with its lenders and the continued commitment to its property portfolio.
