Italian listed developer Risanamento has announced the refinancing of its Sky development project in Milan with a syndicate of Unicredit, Banca Carige and IKB Deutsche Industriebank.
Italian listed developer Risanamento has announced the refinancing of its Sky development project in Milan with a syndicate of Unicredit, Banca Carige and IKB Deutsche Industriebank.
Milan-based Risanamento has secured an extension to 2028 of an existing €189 mln loan and has been granted an additional credit line of €46 mln for the construction of the third tower of the Sky project.
The financing should allow construction to re-start on the site after months of inactivity. The project is due to house the headquarters of pay-TV operator Sky.
Heavily indebted developer Risanamento has been seeking to sell several assets in the past months in an effort to repay its debt load. Risanamento sold an asset at Avenue des Champs-Elysées in Paris to Pramerica and is studying the potential sale of its entire portfolio in the French capital valued at over €1 bn.
