AFI Europe is planning to refinance a €234m loan it secured from Deutsche Pfandbriefbank for the development of AFI Palace Cotroceni in Bucharest. The company expects Erste Group, Raiffeisen Bank International and Raiffeisen Bank Romania will join Pfandbriefbank in a consortium next month. The loan of €234m was originally granted in 2008. AFI Palace Cotroceni posted an operating profit of €28.7m in 2013. AFI Europe anticipates its operating profit will increase this year.
