MLP closes 73.4 mln euro bank financing

Subsidiaries of Polish industrial developer MLP Group have secured EUR 73.4 mln of financing for its portfolio from a consortium of Bank BNP Paribas and PKO Bank Polski.

The funds will be used to refinance the existing credit obligations of the companies and, among others, to finance the group’s current investment projects. Cooperation with banks will contribute to strengthening the financial stability of MLP Group. This will include refinancing the outlays planned for the expansion of the MLP Wrocław logistics park and, additionally, to finance investment projects of the subsidiaries by repaying subordinated loans to the MLP Group.

At the end of last year, MLP Group had completed 715,000 sqm warehouse space, with another 145,000 sqm under construction. The company has a land bank with a target development area of around 1.29 mln sqm. It has also signed a number of reservation agreements for the purchase of land for planned logistics parks in Stryków Pruszków and Poznań in Poland, as well as in Gelsenkirchen, Cologne, Frankfurt am Main and Leipzig in Germany, and for sites in Austria.

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