LONDON, UNITED KINGDOM and TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Cairn Capital, through its newly formed European Commercial Mortgage Fund (Cairn), and Canada Pension Plan Investment Board (CPPIB), through its wholly owned subsidiary, CPPIB Credit Investments Inc. (CPPIB Credit), today announced they have signed a commitment to purchase a EUR180 million bond secured on properties owned by Globalworth Real Estate Investments Ltd. (AIM:GW) (Globalworth). CPPIB Credit will acquire EUR150 million of the bond, with funds managed by Cairn Capital purchasing the remaining EUR30 million. The bond is secured by prime real estate assets in Bucharest, Romania and is a single tranche transaction, listed on the Channel Islands Stock Exchange.

Cairn Capital privately arranged the bond on behalf of Globalworth. This transaction was agreed directly between the investors and Globalworth, enabling the creation of a customized capital market financing that satisfied each party's requirements.

David Henriques, a Director of Cairn Capital said: "We are grateful for the trust Globalworth placed in Cairn Capital in mandating us to structure and arrange this important transaction, we look forward to continuing our close relationship with both CPPIB and Globalworth."

Commenting on the deal Martin Healey, Managing Director and Head of Private Real Estate Debt at CPPIB Credit said: "This investment aligns well with our strategy of providing customized, large-scale funding solutions to borrowers with excellent underlying real estate assets and strong management teams. We look forward to building our relationships with Cairn Capital and with Globalworth."

Ioannis Papalekas, Chief Executive Officer of Globalworth said: "Securing the support of international real estate investors of the calibre of CPPIB is a huge endorsement of Globalworth and our position in the Romanian market. We have built a portfolio of properties that we are proud of and will continue to be an active investor where we see value, thus cementing our position as one of the leading real estate investors in the region. With a local presence and established expertise, Globalworth is very well positioned to take advantage of attractive investment opportunities as they arise."

About Cairn Capital

Cairn Capital is a London-based full-service credit asset management, advisory and securities restructuring firm established in 2004. Cairn Capital has in-depth exposure to credit markets due to its diverse business lines, comprehensive bottom up research, technical understanding and bespoke trading and analytical tools. Cairn Capital has a particular, but not exclusive, focus on the European credit markets. Cairn Capital has $2.1bn of assets under discretionary management and $9.7bn under long term advice (as at 31 January 2016).