16th Jan 2014 07:00
16 January 2014
INVISTA EUROPEAN REAL ESTATE TRUST SICAF
(the "Company")
Invista European real estate trust over-amortizes debt
Debt Reduction
The Company announces that it has used €5.5 million from its existing cash balances to make a further repayment of the senior debt facility, thereby reducing the Loan to Value ("LTV"), as defined in the bank facility agreement, to below 70%. This follows the latest valuation of the Company's property portfolio, which attributed a total value of €316.1 million to IERET's real estate assets as at 31 December 2013. The payment enables the Company to meet its debt LTV covenants currently set at 70% LTV.
The Company will continue to review the strategic use of cash with reference to its investment objectives.
Ludovic Bernard | |
Internos Global Investors | 020 7355 8800 |
| |
Michael Sandler | |
Hudson Sandler | 020 7796 4133 |
Related Shares:
IERE.L