CPI Group has secured a loan worth €117.7m from UniCredit Bank and Komerční banka to refinance its older debts and help pay for the modernization and extension of its IGY shopping center in České Budějovice. Costs are expected to hit €14.3m, with €9m covered by the loan. The extension will add 8,500 sqm of space to the mall, including a multiplex. Work should be completed by spring 2017. CPI will use €36.5m to refinance Olympia Teplice and €27.9m for Olympia Mladá Boleslav, said spokesman Jan Burian.
