News & Analysis

Bank Pekao backs HB Reavis growth

HB Reavis raised €310m in debt financing last year mainly from Warsaw-based Bank Pekao, according to its annual report to 31 December 2014. The Slovak developer, which owns more than 30 schemes across Europe and the UK including 33 Central in the City of London, raised another €69m in debt this year, again mainly from Pekao.

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HB Reavis raised €310m in debt financing last year mainly from Warsaw-based Bank Pekao, according to the developer’s annual report to 31 December 2014.

New loans accounted for €202m of the firm’s debt with refinancing totalling €108m. The typical length of the loans was 5-8 years and the major lenders were Pekao, Zachodni WBK (Santander Group), Raiffeisen and Intesa.

HB Reavis, based in Slovakia, owns more than 32 office, logistics and retail schemes across Europe and the UK, including 33 Central in the City of London.

33 Central in London
33 Central in London

It raised another €58m seven-year facility from Pekao last week to refinance the development of Postepu 14 office building in Warsaw.

HB Reavis currently has assets under management of €1.8bn and reported a 26% increase in net profit to €89m for 2014.