Dutch listed real estate firm NSI has refinanced its largest debt facility of €260 mln with a consortium of banks.
Dutch listed real estate firm NSI has refinanced its largest debt facility of €260 mln with a consortium of banks.
The syndicated loan had original maturities in 2013 and 2014 and represented the majority of the debt expiring in these years. The new loan matures in July 2017, extending the average maturity profile of the total loan portfolio from 2.1 years to 2.8 years.
The international syndicate, which was coordinated by ING Real Estate Finance, consists of the mandated lead arrangers ING, Rabobank and ABN Amro, as well as Belfius and Banque LBLux.
Daniël van Dongen, NSI’s CFO, said: 'This transaction was one of our main priorities and significantly extends the average maturity of our loan portfolio. In total, we have now managed to refinance over €790 mln (90%) of our outstanding Dutch debt portfolio over the last six quarters. This reflects a strong sign of confidence from all financing partners to the company.'
