ING finances CTP's portfolio with €94m loan

Czech developer CTP has secured a €94 mln loan from lender ING to refinance its Central European portfolio.

The deal completes CTP's plan to refinance 80% its portfolio during 2013-2014, the company said.

'CTP is very pleased to deepen its mutual relationship with ING, with whom, in 2008, it agreed financing of €60 mln for eight projects,' said Radek Zeman, CTP's chief financial officer.

CTP is a full-service property developer specialising in the construction and management of custom-built business properties for lease in the Czech Republic and throughout Central Europe.