24th Jun 2025 07:47
Sirius Real Estate Ltd - London and Johannesburg-listed property investor - Gets a new EUR150 million unsecured revolving credit facility, with an initial three-year term. Says the facility has two one-year extension options and allows it to be upsized by up to an additional EUR100 million. The loan carries a margin of 120 basis points over short term Euribor, which is currently about 2%, leading to an interest cost of 3.2% if it were drawn down at existing rates.
The bank consortium includes BNP Paribas SA, ABN AMRO Bank NV and HSBC Holdings PLC. The facility significantly enhances its financial flexibility, taking advantage of market conditions and its strong acquisition pipeline in Germany and the UK. Sirius is also investigating the lower cost funding in Germany.
Stock price in London: 96.40 pence
12-month change in London: down slightly
Stock price in Johannesburg: ZAR23.28
12-month change in Johannesburg: up 5.1%
By Artwell Dlamini, Alliance News reporter
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