Dutch listed real estate company NSI has refinanced its outstanding debt with Deutsche Bank. The agreement covers EUR 121 mln of debt which was to mature in 2012-13. The maturities have been extended to 2015 and 2016.
Dutch listed real estate company NSI has refinanced its outstanding debt with Deutsche Bank. The agreement covers EUR 121 mln of debt which was to mature in 2012-13. The maturities have been extended to 2015 and 2016.
NSI said that it has now covered 98% of its 2012 maturities. Discussion on refinancing the remaining 2% maturing debt in 2012 is in progress.
The arrangement with Deutsche Bank covers 19% of NSI's 2013 refinancing requirements.
Daniël van Dongen, NSI's chief financial officer said, 'In total, NSI managed to refinance 40% of its total outstanding Dutch debt of EUR 863 mln in only six months time, advancing the remaining average maturity of our loan portfolio to 2.7 years.'
NSI invests in offices and retail in the Netherlands and Belgium, and has EUR 2.2 bn of assets under management.
