Friday June 27, 11:55 AM
Eurocastle closes refinancing of 80 million euros on three properties
LONDON (Thomson Financial) - Eurocastle Investment Ltd. said it has closed the refinancing of about 80 million euros on three properties previously financed through the 330 million euro Mars floating facility.
The company said due
to refinancing, the amount drawn on the Mars-floating facility is now 244 million euros.
The new facility has a five year maturity with a current loan-to-value of 65 percent and a spread of 1.02 percent over Euribor and is swapped to a fixed interest rate of 5.07 percent, it added.
Chairman Wesley Edens said: 'With this refinancing, we continue to reduce and extend our short-term debt maturities.'
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