Refinancing for Grand Hotel Lublinianka

24.02.2006

On 24th of February 2006 Lublin Grand Hotel Sp. z o.o. – one of the Von der Heyden Group companies established to realize the “Grand Hotel Lublinianka” project – has refinanced it’s loan in Millennium Bank S.A. with a new loan granted by Bank Zachodni WBK S.A.

The loan Agreement between Lublin Grand Hotel Sp. z o.o. and Bank Millennium S.A. was concluded in the year 2000. During the five year period a lot of changes connected with the project and it’s environment took place, what encouraged the Management Board of the Company to work out a new conception of the project financing.

From among all banks invited to co-operation, the best offer was made by Bank Zachodni WBK S.A. The agreement is concluded for the period of eleven years.

Von der Heyden Group thanks Millennium Bank for the five years of cooperation and enormous equity contributions by its shareholders, which allowed to restore splendor of this historical building and re-open this magnificent hotel in the City of Lublin.