Italian REIT Beni Stabili has confirmed it signed a contract for a EUR 308 mln mortgage loan with a club of four domestic and three foreign banks. The refinancing is for debt maturing in 2012.
Italian REIT Beni Stabili has confirmed it signed a contract for a EUR 308 mln mortgage loan with a club of four domestic and three foreign banks. The refinancing is for debt maturing in 2012.
Beni Stabili revealed on Thursday that the club includes Italian lenders Mediobanca - Banca di Credito Finanziario; Banca Monte dei Paschi di Siena; Intesa Sanpaolo and Unicredit. The other members are French banks Crédit Agricole Corporate & Investment Bank and Natixis, and Germany’s DekaBank Deutsche Girozentrale.
The deal was first signalled on 10 April.
Beni Stabili said it has substantially re-financed the debt maturing in 2012 with this transaction.
The refinancing has 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.
