Plaza refinances loan for Riga centre

Plaza Centers' 50%-held Latvian subsidiary has signed a new 59.3m investment loan with a consortium comprising two banks for a shopping and entertainment centre in Riga, Latvia.

The new facility has a duration of four years compared to the previous loan, which was due for repayment on 30 June 2014.

A pivotal moment in PLAZ recent history - bottom feeding time..........................

needs to be read thoroughly http://www.plazacenters.com/downloads/debt_restructuring/Baker_Tilly_opinion_EN.pdf

dyor

> this is a pivotal moment in plaz history
> the bond holders really have no option but to accept the proposal or literally potentially be multiple millions of euros out of pocket - who in their right business mind would want that
> by agreeing bondholders will be compensated at par value (i.e. lose nothing)
> the banks apparently are cool and refinance already extended as per last finance rns
> the businesses are very profitable at up to 96% cap.
> plaz are only selling non core businesses some of which have already been sold
> plaz have €23M (November 2013) cash
> plaz nav is €200Million EUROS with not many shares in issue
> imo we are at or near bottom currently
> because although this is a complex situation but has fantastic fundamentals and process has already started next news is hoped for very quickly maybe even as early as next week perhaps
> et cetera et cetera

I would not want to be out of plaz right now!!!

good blue day yesterday - more to follow...............

massive 500,000 and 1 million buys just in more blue

looks like a leak

don't forget the 200M nav
onwards & upwards
atb

fantastic another non core asset sold - this will not remain this low for long
atb



PLAZA COMPLETES SALE OF UJ UDVAR PROJECT

RNS Number : 4834X

Plaza Centers N.V.

13 January 2014




13 January 2014



Plaza Centers N.V.



PLAZA CENTERS COMPLETES SALE OF UJ UDVAR PROJECT IN HUNGARY



Plaza Centers N.V. ("Plaza" or the "Company"), today announces that its 70% subsidiary has reached an agreement to sell its 50% equity stake (together with the other 50% Joint Venture partner) in the Uj Udvar project in Budapest, Hungary. As a result of the transaction, proceeds of €2.35 million in cash were received by Plaza for its share in the asset.



Ran Shtarkman, President and CEO of Plaza Centers N.V., said:

"The Uj Udvar project is an operational shopping centre but requires substantial refurbishment to enable it to deliver strong levels of income and provide value enhancement for our shareholders. Therefore, in the context of a lack of readily available development finance for such projects and our ongoing restructuring process, we decided to sell our stake to refrain from incurring additional material costs.



"The disposal is also in line with our strategy to deleverage and to dispose of non-core assets and to focus on the core yielding assets across our portfolio, which we are continuing to do."

strong good news flow expected here imminently and talk of a poss one off divi from the non core sales by some...............................

fantastic RNS- sneaked in almost not noticed:

RNS RNS RNS stonking news sneaked in on the quiet - all systems go :

Restructuring

RNS

RNS Number : 8412M

Plaza Centers N.V.

21 July 2014



21 July 2014

Plaza Centers N.V. (the "Company" or "Plaza")

PLAZA SUCCESFULLY COMPLETES DEBT RESTRUCTURING AND EMERGES FROM REORGANISATION PROCEEDINGS

Plaza today announces that, following the Dutch Court ('the Court') approving the Dutch restructuring plan (the "Plan") on 9 July 2014, it has received confirmation that the decision of the Court has become irrevocable and, as a result, the date of 18 July 2014 is the "Effective Date" as defined in the Plan on which the Plan becomes binding and effective.

As a consequence of the confirmation decision becoming final, the suspension of payment proceedings, which commenced on 18 November 2013, has today come to an end and the Company has successfully emerged from the reorganization proceedings. Accordingly, the administrator appointed by the Court to manage the affairs of the Company alongside the existing management is no longer in office and Plaza's management has resumed full control of the business.

All information regarding Plaza's debt restructuring process is available to view on the Company's website at www.plazacenters.com.