Iulius Group refinances mall by 50m euros

Iulius Group, the company held by businessman Iulian Dascalu, obtained a 50 million-euro loan from Bank Austria Creditanstalt to refinance the Iulius Mall shopping complex in Timisoara. The funding granted by Bank Austria Creditanstalt and arranged by HVB Romania (the two banks are part of the same group), is one of this year”s most important on the commercial segment, and is repayable in ten years. “Refinancing is not something we make a rule of, but the terms were very good in this case,” says Iulian Dascalu, the chairman of Iulius Group. He added that the first loan granted by BCR for the development of Iulius Mall Timisoara, of 37 million euros, had been granted for a comparable period. ZF