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Duna House signs for HUF 2.4 bln loan from Raiffeisen

Hungarian real estate agency Duna House Holding said on Thursday that it has signed a contract with Raiffeisen Bank for a HUF 2.4 billion, seven-year loan, state news wire MTI reported.

Duna House will finance acquisition plans and general liquidity needs with the credit.

Conditions of the credit include commitments by Duna House to cap its dividend at the current dividend policy and to keep its net bank loan-to-EBITDA ratio under 3.0.

The loan carries a floating three-month rate. The drawdown period is nine months.