Duna House signs EUR 7.4 million loan agreement with Raiffeisen

Portfolio
Duna House Holding Plc. has signed a nearly HUF 2.4 billion (EUR 7.43 mn) loan agreement with Raiffeisen Bank Zrt., which will be partly used to finance acquisitions, the real estate agency holding announced on Thursday.
Duna House has signed a loan agreement with Raiffeisen Bank Zrt. on 2 July 2019 with HUF 2.368 billion general purpose loan for seven years. The aim of the borrowing is to finance the company`s acquisition plans and general liquidity needs, it said in a statement on the website of the Budapest Stock Exchange (BSE).

The loan is provided at market rate, with a 3-month variable interest rate. The drawdown period was set to nine months. The main guarantees are a mortgage on the own investment and operative real estate portfolio, pledge on the Hungarian core operation subsidiaries, and intra-group warranties

The main commitments relating to the loan are that changes to the Articles of Association require the bank`s approval, dividend is capped at current dividend policy, founders keep at least 50%+1 share in the company, Net bank loan / EBITDA below 3.0x.

' title='
 

More in Property

kémény, tető, falu, fűtés, füst
November 13, 2024 15:44

One million Hungarian households are now living in housing poverty

Public housing support still not targeted at people in need

építőipar - daru, földmérő
November 05, 2024 09:23

Housing permits plummet in Budapest, while two rural towns see a spike

Overall trend still downward, but housing permits show some signs of life

panel, panellakás, lakótelep, társasház
November 04, 2024 14:06

Residential property deals boom in Hungary in October

Annual goal within reach

October 30, 2024 16:04

VAT on new dwelling will also be affected by Hungary's 2025 tax package submitted to Parliament

Government is planning significant tax changes

LATEST NEWS

Detailed search