Sirius Real Estate secures €150m revolving credit facility

Sirius Real Estate has obtained a new €150 mln unsecured revolving credit facility (RCF) from a consortium of three banks (BNP Paribas, ABN AMRO, and HSBC) to bolster its financial resources.

Chris Bowman CFO

The RCF, carrying an interest rate of 120 basis points over short-term EURIBOR (currently totalling approximately 3.2%), has an initial three-year term with options to extend and increase the facility to €250 mln.
This new facility diversifies Sirius’s debt sources and provides it with increased flexibility for acquisitions in Germany and the UK, as well as for efficient cash management, especially during bond refinancing periods.
Panmure Liberum advised Sirius on the deal.
Chris Bowman, CFO, commented: "Along with our recent equity fundraise and bond issuance, this facility provides us with further flexibility to capitalize on our exciting pipeline of opportunities in Germany and the UK. It also further diversifies our debt by adding BNP Paribas and ABN AMRO to our current pool of relationship banks, and extends our relationship with HSBC, a bookrunner on all our bond issues to date. Furthermore, this new facility demonstrates the strong support we continue to receive from existing and new financing partners."