Brief: Deutsche Real Estate: Refinancing For Property Portfolio Signed

Deutsche Real Estate AG

15/03/2018 07:57

March 15(Reuters) - Deutsche Real Estate AG  DREGa.F :
    * SAID ON WEDNESDAY SIGNED CONTRACT WITH SUMMIT GROUP TO
REFINANCE
ITS LARGEST REAL ESTATE PORTFOLIO
    * THE LOAN OF EUR 145 MILLION HAS TERM UNTIL JANUARY 2025
    * FIXED INTEREST RATE IS 2.14% P.A. AND THE LOAN IS FINAL
AND
THEREFORE REDEMPTION-FREE
    * THE REFINANCING WILL HAVE A ONE-TIME IMPACT ON EARNINGS OF
AROUND EUR 3.2 MLN
    * FUTURE INTEREST EXPENSES WILL BE REDUCED BY AROUND EUR 1.1
MLN
IN FIRST YEAR COMPARED TO PREVIOUS FINANCING
    * IN ADDITION, THE TERM OF THE LOAN GRANTED BY GALLIA INVEST
S.À.R.L., LUXEMBOURG, A SUBSIDIARY OF THE SUMMIT GROUP, WAS
EXTENDED UNTIL THE END OF 2021

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nPexy2pdPa
    
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