Frey: two financing operations for E150m
(CercleFinance.com) - Frey announced on Thursday evening that it had signed two new financing agreements for a total of E150m, with the threefold aim of diversifying its sources of financing, extending the maturity of its debt and pursuing its growth strategy.
The real estate company, which specializes in the development of open-air shopping centers, explains that it has arranged fixed-rate financing of 100 million euros with Natixis, with a maturity of 10 years.
At the same time, Frey has signed a seven-year, 50-million euro mortgage with BNP Paribas Bank Polska for its Matarnia Park Handlowy open-air shopping center in Gdansk, Poland.
These financings, with an average term of nine years, will enable the real estate group to improve the average maturity of its debt, which was 4.6 years up to now.
Above all, the company says it has benefited from a favorable interest-rate window, with a benchmark based on a 10-year swap at its lowest since 2022, thus contributing to a fall in the average cost of its debt.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The real estate company, which specializes in the development of open-air shopping centers, explains that it has arranged fixed-rate financing of 100 million euros with Natixis, with a maturity of 10 years.
At the same time, Frey has signed a seven-year, 50-million euro mortgage with BNP Paribas Bank Polska for its Matarnia Park Handlowy open-air shopping center in Gdansk, Poland.
These financings, with an average term of nine years, will enable the real estate group to improve the average maturity of its debt, which was 4.6 years up to now.
Above all, the company says it has benefited from a favorable interest-rate window, with a benchmark based on a 10-year swap at its lowest since 2022, thus contributing to a fall in the average cost of its debt.
Copyright (c) 2024 CercleFinance.com. All rights reserved.