Syndicate Arranges SRV’s REDI Facilities
The SRV-developed REDI project in the metro quarter of Kalasatama, Helsinki will be launched. A EUR 225 million ($247 million)project credit agreement has been signed with a banks syndicate to construct the shopping centre and parking facility parts of the project. The syndicate arranging the project credit facilities consists of Pohjola Bank, Nordea Bank Finland and Helaba Landesbank Hessen-Thüringen as the mandated lead arrangers, and Danske Bank and Swedbank AB as other lenders in the syndicate.
The capital investment shares of the consortium that will develop the shopping centre and parking facility are divided such that SRV’s share is 40%, Ilmarinen Mutual Pension Insurance Company’s share is 30%, LocalTapiola’s share is 15%, and the share of OP-Pohjola Group and a fund managed by the Group is 15%. In addition, SRV has granted an unsecured project credit of €15 million for construction. Through the project loan arrangements, the agreement on the investor consortium’s joint investment for the implementation of the shopping centre and parking facility, signed earlier on a conditional basis, enters now into effect.