PROJECT

Projects

Summary of Investment Information

Project Number

39423

Company Name

HYSTEAD LIMITED

Date SPI Disclosed

Sep 6, 2017

Country

Eastern Europe Subregion

Region

Europe

Projected Board Date

Oct 7, 2017

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Mar 6, 2022

Department

Regional Industry MAS LAC & EUR

Industry

Tourism, Retail and Property

Previous Events

Approved : Dec 15, 2017
Signed : Feb 26, 2018
Invested : Jun 8, 2018

Sector

Construction and Real Estate

Project Description

The proposed Project consists of providing an IFC A Loan of up to EUR60 million and a parallel loan of up to EUR45 million, mobilized by IFC, to support the expansion of Hyprop Investments Limited (South Africa) and PDI Investments Limited (Mauritius), into Central and Eastern Europe (CEE) following their acquisition of three operating shopping malls in Belgrade, Serbia; Podgorica, Montenegro; and Skopje, FYR Macedonia. 

The proposed investments shall be used to refinance existing debt of the mall entities and therefore provide a more sustainable capital structure, and to finance the upgrade and/or expansion of the malls. The malls are each owned by locally incorporated private companies that are 100% subsidiaries of Hystead Limited, UK ("Hystead" or the "Company”).                                                

Associated Advisory Engagement

 n/a                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation