1st Aug 2007 07:01
Speymill Deutsche Immobilien Co PLC01 August 2007 Speymill Deutsche Immobilien Company plc ("SDIC" or "the Company") C Share Financing Update In May 2007, Speymill Deutsche Immobilien Company plc (AIM: SDIC; SDCC), thepan-German residential property investment company listed on AIM, raised asecond tranche of funding through the issue of C Shares for investment into afurther portfolio of properties ("the C Share Portfolio"). The Company now has in place a committed loan facility of up to EUR500 million through a syndicate of three European banks. The facility, along with the recently completed forward hedging strategy, will mean that the total interest expense of the EUR500 million will not exceed 5 per cent over the coming 7 years. In addition, the Company has another EUR300 million of forward interest rate hedging that will cover any further loans that may be required on the C Share Portfolio. 1 August 2007 Contact: Smith & Williamson Corporate Finance Limited +44 (0)20 7131 4000Azhic Basirov / Siobhan Sergeant Notes to editors: Speymill Deutsche Immobilien Company plc is a pan-German residential propertyinvestment company which listed on AIM on March 2006, raising £170 million onadmission. In May 2007, the Company raised a further EUR250 million through a placing of CShares which were admitted to trading on AIM on 10 May 2007. The Company was established to invest in the German property market and,predominantly, in the residential sector. It is anticipated that once fullyinvested, the Company will have a balanced portfolio of properties throughoutGermany. The Company's objective is to provide Shareholders with an attractive level ofincome together with the prospect for long-term capital growth. The Manager is Speymill Property Managers Limited and the Investment Adviser isGOAL Service GmbH. The Manager and Investment Adviser are responsible foridentifying new investment opportunities. The Manager is a subsidiary of Speymill Group plc (AIM: SYG) while theInvestment Adviser is a joint venture partner of Speymill Group plc (which owns51% of the venture). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sdic Power.