Dutch listed property firm NSI has reached an agreement with ING Real Estate Finance to extend a EUR 75 mln short-term credit facility. This was NSI's largest refinancing requirement for 2012, the company said in a statement on Wednesday.
Dutch listed property firm NSI has reached an agreement with ING Real Estate Finance to extend a EUR 75 mln short-term credit facility. This was NSI's largest refinancing requirement for 2012, the company said in a statement on Wednesday.
'NSI and ING together started preparing the prolongation of this credit facility that would expire in July 2012 at a very early stage and have now taken an important step in covering NSI's refinancing requirements in 2012. We consider this an important confirmation of our long-standing relationship with ING,' said Daniël van Dongen, NSI's CFO.
The structure of the facility offers room for extension in size as well as the number of participating parties. The new loan has a maturity date of mid 2014 with a further prolongation option of the total facility until the end of 2015.
NSI is a publicly-listed closed-end real estate investment company with assets of around EUR 2.3 bn.
