Duna House signs EUR 7.4 million loan agreement with Raiffeisen
The loan is provided at market rate, with a 3-month variable interest rate. The drawdown period was set to nine months. The main guarantees are a mortgage on the own investment and operative real estate portfolio, pledge on the Hungarian core operation subsidiaries, and intra-group warranties
The main commitments relating to the loan are that changes to the Articles of Association require the bank`s approval, dividend is capped at current dividend policy, founders keep at least 50%+1 share in the company, Net bank loan / EBITDA below 3.0x.