Gemini has finalized a PLN 1 billion ($240 million) financing agreement with a syndicate of six lenders to refinance existing debt and fund further development projects.
The deal, reported by Rzeczpospolita, involves ING Bank Śląski, PKO BP, mBank, BNP Paribas, Erste Bank AG, and VeloBank.
The funds are earmarked for both refinancing current obligations and supporting the company's ongoing investment pipeline, providing a significant liquidity boost amid a challenging real estate financing environment in Poland.
This move underscores the continued confidence of major financial institutions in Gemini's balance sheet and strategic direction, despite broader sector headwinds.
The syndication structure allows for risk distribution among key players in the Polish banking market, including state-owned PKO BP and international giants like BNP Paribas and ING.
For investors, the secured funding reduces near-term refinancing risk and provides capital for future growth initiatives, potentially stabilizing the stock's outlook.