Vastned realises further spreading in loan portfolio
Vastned, the listed European retail property fund focusing on venues for premium shopping, has taken out a new five-year loan of € 40 million with Belgian credit provider Belfius. Also, the existing short-term cash facility was extended with € 35 million.
This has increased the total available credit facilities with Belfius, including financing for Vastned Retail Belgium, to almost € 90 million.
‘Part of our conservative financing policy is to increase the spreading among our bank credit providers and extend the duration of the long-term loan portfolio. This transaction with Belfius, which we have been able to conclude on market terms, is fully in line with this strategy. We are delighted that we have been able to further intensify our good relations with Belfius through this transaction.
Vastned is a listed European retail property fund focusing on 'venues for premium shopping'. Vastned invests in selected geographical markets in Europe and Turkey, with a clear focus on the best retail property in the most popular shopping streets in the bigger cities (‘high streets’). It also owns attractive shopping centres and retail warehouses. The company’s tenants including strong, leading international and national retail brands. The property portfolio has a size of approximately € 1.8 billion.