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 logistic 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.
„This financing package is a recognition of our mission to develop high-quality logistics infrastructure and promote sustainability across the supply chain in order to support the real economy”, Jeroen Biermans, General Manager, WDP Romania.
„Furthermore, adding a new partner and reference player like IFC lends credibility to our business and allows us to further strengthen and diversify our funding resources”, Mickael Van den Hauwe, CFO WDP
„With this large-scale green investment, we are supporting efforts to increase competitiveness and productivity in Romania, contributing to long-term sustainable growth”, Wiebke Schloemer, IFC Director for Europe and Central Asia.
WDP develops and invests in logistics property (warehouses and offices). WDP’s property portfolio amounts to around 5 million m². This international portfolio of semi-industrial and logistics buildings is spread over around 250 sites at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg, Germany and Romania.
IFC, a sister organization of the World Bank and member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries, working with more than 2,000 businesses worldwide, using capital, expertise, and influence to create markets and opportunities where they are needed most. In fiscal year 2019, IFC delivered more than $19 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.
