13th Jan 2016 14:05
LONDON (Alliance News) - Terra Catalyst Fund on Wednesday said that Spazio Investment NV's Italian property fund has refinanced its outstanding loans by signing a new agreement with Banca IMI, Banca Unicredit and Natixis.
The new EUR213.3 million financing facility, equivalent to the previous outstanding loan plus closing costs, matures on December 31, 2020 at a borrowing cost broadly unchanged from the previous loan.
"The loan repayment provides for a 12 month grace period and a subsequent step-up amortising schedule with a bullet payment at maturity equal to 51% of the initial principal," Terra Catalust said.
Spazio is the company's sole remaining holding of significant size.
Shares in Terra Catalyst were untraded at 102.00 pence on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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