Sirius Real Estate has completed the early refinancing of a €58.3m debt facility with Deutsche Pfandbriefbank, seven months in advance of the facility’s due date.
The new seven-year facility, which has an all-in fixed interest rate of 4.25%, will replace and redeem the existing facility upon its expiry on 31 December 2023 and will run until December 2030.
As at 31 March 2023, the group had €975.1m of outstanding debt, €735.0m million of which was unsecured.
The group said it had €1.6bn of unencumbered assets and more than €124m of free cash available. Within the next 12 months, Sirius said it had €20m of debt expiring, which it was “confident of either extending terms with the existing lenders or replacing with new lenders”.
