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New financing package of circa 205 million euros with IFC to support business plan WDP Romania
WDP and IFC, a member of the World Bank Group, have signed a financing package of circa 205 million euros. The funds will be exclusively dedicated to newbuild logistics development projects in Romania with green standard certification.
Several loans will be issued by IFC directly and through the mobilization of third-party resources for a total consideration of circa 205 million euros. The loans with a duration of up to nine years, will be structured as term loans and will be partially euro- and partially dollar denominated, with WDP intending to hedge the currency risk.
The debt raising will support WDP Romania in the execution of its business plan, aiming to double the portfolio from 500 million to 1 billion euros throughout 2019-23, in line with the WDP strategic growth plan 2019-23. The proceeds will be used exclusively to fund newbuild sustainable development projects at important logistics hubs that will be EDGE1 certified, enhancing Romania’s logistic infrastructure and employment within a modern and healthy working environment. To that extent, WDP has aligned its Green Finance Framework for inclusion of the EDGE certification – the updated framework along with the second opinion issued by Cicero confirming alignment with the international Green Loan Principles can be found on the WDP website.