MANGO opens in Galeria Północna

The Spanish chain MANGO has opened its first store in the north of Warsaw. Its wide selection of attractive women’s clothing from the latest spring collection and a range of trendy accessories have been available at Galeria Północna since 13 February.

 

The new MANGO store in Galeria Północna covers a considerable area of 433 square meters. It is the fifth MANGO shop in the capital and the first one in northern Warsaw. The Spanish fashion brand, adored by fashionists all over the world, is very careful in the selection of locations for its new stores. MANGO stores are opened in renowned commercial areas. On 13 February, Galeria Północna became another shopping mall housing the brand.

MANGO store perfectly complements the portfolio of Galeria Północna. Many of our customers are modern and active people who like to combine fashionable clothes with high quality and comfort. Their expectations are reflected both in the philosophy and in the clothes of the MANGO brand – says Agnieszka Nowak, Director of Galeria Północna.

 MANGO is a popular Spanish clothing brand founded in 1984 in Barcelona. The company manufactures women’s, men’s, and children’s clothing, as well as elegant accessories. The Spanish chain is present in nearly 111 countries all over the world. The Mango store in Galeria Północna will offer fashionable clothing for women. Since 13 February, customers can enjoy the latest spring collection of the brand.

 

About Galeria Północna

Galeria Północna is the first modern shopping center of the fourth generation in the northern part of Warsaw and the first large shopping mall available in the capital for more than a decade. With a retail space of ​​over 64,000 sq m. the investment is located at Światowida 17 Street. The investor and manager of Galeria Północna is GTC Group, the venue was opened on September 14, 2017. According to the estimates of the GTC Group, in the close surroundings of Galeria Północna live around 750,000 inhabitants, mainly young people and families with children. The specificity of these groups has been included not only in the commercial offer of Galeria Północna but also in the building design and its entertainment bid. Made by the studios APA Wojciechowski and Tzur Architects, includes also special arrangement of the roof space, enabling active recreation among greenery. The facility also meets the highest environmental standards, which confirms the LEED Gold certification. Galeria Północna guarantees a commercial, entertainment and service offer inaccessible in the north-eastern part of Warsaw before. The area is filled with more than 200 stores, boutiques and point-of-sales of well-known native and global brands, food court, 11-screen Cinema City, Fikołki Playground, Calypso fitness club and 2,300 parking spaces. The commercial offer od Galeria Północna includes among others the first Hamleys store in Poland, LPP group brands, Forever 21, TK Maxx, H & M, Martes Sport, EURO RTV / AGD, CCC, Carrefour with a full-size hypermarket, Bierhalle and the Enel-Med medical center.

More information available at: www.galeriapolnocna.pl

GTC with investment grade rating

Just four weeks after announcing a number of remarkable refinancing transactions, GTC announces that Midroog, an affiliation of the worldwide rating company, Moody’s Investors Services (51%), assigned A2.il rating with a stable outlook for repayment capability of debt that GTC might raise in Israel, in the amount of up to € 70 million. A2.il is a local investment grade rating (for debt to be issued in Israel).

The assigned A2.il rating indicates that GTC has a high repayment capability for such debt relative to other local issuers in Israel. A stable outlook assigned by the rating reflects low expectations of a rating change over the medium term.

In the rating rationale, Midroog noted among others GTC’s strong operations, long-standing, experienced management, high quality key assets, high quality tenants, good portfolio diversity, increasing FFO, few unencumbered properties allow for financing flexibility and increased financing of these properties. Midroog also noted that the ratio of shareholders’ equity to total balance sheet is positively standing out in relation to the rating level.

“For the first time in GTC’s history the Company has been examined by a rating agency and was granted a well-deserved investment grade rating. This is the result of long-term hard work by GTC’s team that steadily but surely worked out in a methodic manner to improve the Company’s financial performance. Our pipeline of new projects continues to yield a growing FFO and I believe this high rating will support our progress in diversifying funding sources and in creation of shareholders value.”
– commented Erez Boniel, GTC’s CFO.

ABOUT MIDROOG (A subsidiary of Moody’s)

Midroog Ltd. is a credit rating agency accredited by the State of Israel. It is an affiliation of the worldwide rating company, Moody’s Investors Services (51%).

Definitions of Midroog’s ratings are available at the following website of Midroog: www.midroog.co.il, where Midroog also discloses ratings, criteria and methodology.

Neither this press release nor the ratings issued by Midroog constitute a recommendation to buy, hold, and/or sell securities and/or other financial instruments issued or relating to GTC  and/or make any other investment and/or forgo any of these actions.

Neither this press release nor the ratings issued by Midroog constitute investment advice and/or financial advice, nor do they address the appropriateness of any given investment for any specific investor, in particular retail investors. Each potential investor should seek and obtain professional advice in respect of his/her investments.

This press release is neither an offer of securities for sale, nor a solicitation of an offer to purchase/subscribe for securities, in any jurisdiction.