Announcement on business developments related to the Ellinikon
LAMDA DEVELOPMENT S.A. (the “Company”), in accordance with Regulation (EU) No 596/2014 and the Athens Exchange Rulebook, each as applicable, and further to the relevant announcements dated 25.11.2019, 30.01.2020 and 07.04.2021, informs the investing public that it signed on 23.06.2023 with Eurobank S.A., Piraeus Bank S.A., Alpha Bank S.A. an agreement for the update of the basic business terms for the syndicated bank loans to be provided to the Company and/or the Group’s subsidiaries for the purposes of financing The Ellinikon (the “Project”).
The update stemmed from the positive developments related to the amount of proceeds from residential developments during the first five years of the Project (Phase 1), as well as the generally positive developments in relation to the Ellinikon project to date, as reflected both in the progress of the construction works as well as the overall collection of cash proceeds.
Following said update, the total amount of the syndicated bank loans, is as follows:
|
Syndicated Bank Loans Financing Phase 1 |
||
| (amounts in €m) | New Financing | Old Financing |
| Residential developments, infrastructure works & other developments | 120 | 394 |
| Commercial/Retail developments Vouliagmenis Mall & Riviera Galleria | 575 | 517 |
| VAT expenses | 249 | 205 |
| Total Loans | 944 | 1,117 |
