Quartiers secures EUR 18.5 million in financing at a reduced interest rate, freeing up cash flow for growth and allowing resumption of dividends on preference shares
Quartiers Properties AB (publ) (“Quartiers” or “the Company”) has today, in line with a previously communicated plan, refinanced the loan with DeShaw that the company took out in 2020 in connection with the outbreak of Covid-19 in Europe. The refinancing of the loan removes the obstacles preventing the Company from paying dividends on its preference shares. The new lender is Alteralia Real Estate Debt FIL (“Alteralia”). The EUR 18.5 million loan is secured against the Boho Club and CFS Residential properties, as well as pledges in a number of the Company’s subsidiaries. Of several possible