Echo granted a PLN 90 mln loan by mBank

Echo Investment has concluded an agreement with Polish commercial lender mBank in terms of receiving a €20 million (PLN 89 million) and PLN 2 million loan, the company informed in a statement. The loan was granted for six years. Echo intends to use the funds to finance the final stage of its office scheme Nobilis Business House. Echo Investment is a property developer which manages approximately 400,000 sqm of space occupied by shopping centers, offices and housing buildings all over Poland. The company has been listed on the WSE since 1996. mBanks is a unit of German Commerzbank, one of the leading commercial banks in Poland. The Bank has been listed on the Warsaw Stock Exchange since 1992.