Beni Stabili agrees EUR 308m refinancing with 7 banks

Italian REIT Beni Stabili has agreed a refinancing in order to make an early repayment on a EUR 308 mln mortgage loan expiring in 2012.

The re-financing will be provided by a pool of four Italian banks and three foreign banks. It will have a three-year maturity with a spread set at 345 basis points.

Listed in Milan and Paris, Beni Stabili managed EUR 4.4 bn of assets, primarily office and retail, in major cities in northern and central Italy.