Sirius secures €300M Revolving Credit Facility

Summary by AI BETAClose X

Sirius Real Estate Limited has secured a new €300 million unsecured revolving credit facility, doubling its previous facility and providing enhanced financial flexibility for acquisitions and cash management. This three-year facility, with two one-year extension options and an accordion feature for an additional €100 million, maintains the previous margin of 120bps over short-term EURIBOR and aligns covenants with the Group's 2032 bond. The facility diversifies banking relationships by adding Barclays alongside ABN Amro, BNP Paribas, and HSBC, and supports the company's strategy to capitalize on market opportunities and its acquisition pipeline, with the weighted average cost of debt remaining at 2.5%.

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