The International Finance Corporation (IFC), the investment division of the World Bank, has extended a €58 million facility to supplement the existing €387 million green financing provided to NEPI Rockastle. This expands the total financing package to €445 million.
The facility now covers around 89% of the principal of the bond issue, and the difference is to be covered from the group’s cash resources, according to Mirsanu.
Last month, NEPI Rockcastle announced the largest investment program in Central and Eastern Europe, including Romania.
The Promenada mall in Bucharest will, for example, be expanded.
In January, IFC lent €387 million ($424.3 million) to NEPI Property, a subsidiary of shopping center developer NEPI Rockcastle, to reduce greenhouse gas emissions and increase energy efficiency in the construction sector from Romania and Bulgaria.
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