German property investor IVG Immobilien has secured EUR 1.35 bn in syndicated loans, replacing its current facilities of EUR 750 mln. IVG said the new seven-year facility is equally split between a term loan and a revolving credit facility. They replace IVG's EUR 750 mln syndicated facilities signed in July 2005, as well as bilateral credit lines.

German property investor IVG Immobilien has secured EUR 1.35 bn in syndicated loans, replacing its current facilities of EUR 750 mln. IVG said the new seven-year facility is equally split between a term loan and a revolving credit facility. They replace IVG's EUR 750 mln syndicated facilities signed in July 2005, as well as bilateral credit lines.

The new facility lifts free liquidity to more than EUR 1 bn, the company said. The margin on the term loan is set at 60 bps per annum over EURIBOR (Euro Interbank Offered Rate), while the revolving credit carries a commitment fee of 10 bps per annum if it is more than 50% utilised.