Project Notice |
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| PNR | 55227 |
| Project Name | Noval Property REIC Convertible Loan |
| Project Detail | Location: Greece Project number: 54094 Business sector: Property and tourism Notice type: Private Environmental category: B Approval date: 19 Jul 2023 Status: Approved PSD disclosed: 05 Sep 2023 Provision of an up to EUR 10.5 million convertible unsecured loan (the "Convertible Loan") to Noval Property REIC (the "Company" or "Noval Property"). The Convertible Loan will be mandatorily converted into newly issued common shares upon the Initial Public Offering ("IPO") of the Company on the Athens Stock Exchange. The proceeds of the Convertible Loan will be directed towards the Companys pipeline of green asset developments and acquisitions in Greece (the "Project"). Project Objectives Contribution to the expansion of the private sector and support of sustainable developments in the evolving real estate sector in Greece. The Convertible Loan will be used to fund the Companys medium-term investment plans of asset developments and acquisitions dominated by green certified assets, in accordance with Noval Propertys long-term strategy of scaling up towards high-quality buildings of modern specifications, fitting occupiers needs while minimising environmental footprint. |
| Funded By | European Bank for Reconstruction and Development (EBRD) |
| Country | Greece , Western Europe |
| Project Value | EUR 10,500,000 |
Contact Information |
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| Company Name | NOVAL PROPERTY REIC |
| Address | Mr. Panagiotis Kapetanakos pkapetanakos@noval-property.com +30 216 8608090 https://noval-property.com/ NOVAL PROPERTY REIC Olympioniki Tsiklitira 41 Marousi 151 25 Greece |
| Web Site | https://www.ebrd.com/work-with-us/projects/psd/54094.html |
