Brief: Deutsche EuroShop Concludes Its Upcoming Refinancing For 2022

Deutsche Euroshop AG

02/08/2022 07:05

Aug 2 (Reuters) - DEUTSCHE EUROSHOP AG  DEQGn.DE :
    * FINANCING EXTENDED FOR 2022, INTEREST SAVINGS SECURED
    * SHOPPING CENTER INVESTOR DEUTSCHE EUROSHOP AG HAS
CONCLUDED ITS
UPCOMING REFINANCING FOR 2022
    * THIS INCLUDES A GROUP-LEVEL LOAN OF EUR 52 MILLION AS WELL
AS
FINANCING FOR ALTMARKT-GALERIE DRESDEN (EUR 107 MILLION) AND
CITY-POINT KASSEL (EUR 55 MILLION)
    * A CREDIT TRANCHE OF EUR 10 MILLION FOR ALLEE-CENTER HAMM
WILL BE
REPAID AT END OF SEPTEMBER
    * SIGNED CONTRACTS MEAN THAT, IN FUTURE, COMPANY WILL PROFIT
FROM
INTEREST SAVINGS OF APPROXIMATELY EUR 0.5 MILLION EACH YEAR
    * INTEREST EXPENSES FOR 2022 WILL BE APPROXIMATELY EUR 3.2
MILLION
LESS THAN IN PREVIOUS YEAR.
    * THIS IS ESSENTIALLY RESULT OF REFINANCING UNDERTAKEN IN
2021 AND
2022 TOTALLING AROUND EUR 400 MILLION
    * GROUP DOES NOT FACE ANY FURTHER LOAN MATURITIES THIS YEAR
    * FOR ONLY REFINANCING DUE IN 2023, EUR 209 MILLION FOR
MAIN-TAUNUS-ZENTRUM, COMPANY HAS ALREADY AGREED ON A TERM SHEET
WITH A BANKING CONSORTIUM
    * INTEREST RATE FOR CURRENT LOAN IS 2.99%
    * AFTER THIS, THERE IS NO FURTHER REFINANCING DUE UNTIL
SEPTEMBER
2025

Source text for Eikon:  ID:nEQhLMgDa 
Further company coverage:  DEQGn.DE 

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