REFINANCING EUROPARK DALIAN PROJECT LOAN

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Overig advies 07/05/2020 17:16
Amsterdam, May 7, 2020 – Kardan N.V. (‘Kardan’ or ‘the Company’), active in Real Estate and Water Infrastructure in emerging markets informs that it has approached the trustees to the Debenture Holders (series A and B) to inform them regarding a partial early repayment of the Europark Dalian project loan as part of the loan extension or refinancing process.

Kardan’s subsidiary, Kardan Land China Ltd. (‘KLC’) is planning to make a partial early repayment of the Europrak Dalian project loan in the amount of RMB 150 million (EUR 20 million) of its own resources, as part of the refinancing discussions. The project loan matures in November 2020, and according to initial discussions with the lender, and other financial institutions, a partial early repayment will significantly increase the probability to refinance or extend the project loan. The outstanding loan principal amounts to RMB 741 million (EUR 97 million).

In its approach to the trustees representing the Debenture Holders, the Company sets out the reasons for such early repayment, its importance to the process and provides additional information about the net asset value of the project company. These documents can be found here on the Company’s website.




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