Public Service Properties Investments (LON:PSPI) - Progress on strategic review

Thursday, Jan 03 2013 by

Jan 03rd 2013 - Edison Investment Research today published a report on Public Service Properties Investments (PSPI.L, LSE:PSPI, LON:PSPI) entitled "Progress On Strategic Review". In summary, the report says:

Public Service Properties Investments (PSPI) announced material progress on its strategic review in December. It has reduced refinancing risk and either removed or cut exposure to weaker, non-core components of its portfolio. It refinanced €17.2m of debt secured on six German care homes due to expire in March 2013 and extended the term by seven years to March 2020 at a 4.05% fixed rate. The disposals were all US and Swiss assets, with two properties in Germany. Sales prices were between 13% and 17% below mid-year valuations, reflecting a relatively weak negotiating position as it sought buyers. Although this has had a negative c 6p impact on NAV/share to 56p following the transactions, it puts PSPI in a more stable...

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Edison Investment Research


Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority ( more »