Cibus Nordic Real Estate AB (publ) refinances the second of its three senior debt facilities
Following the refinancing of the first of its three senior debt facilities, announced in November 2018, Cibus Nordic Real Estate AB (publ) ("Cibus" or the "Company") has now refinanced the second senior debt facility. The refinancing has a positive effect on the Company's future cash flows.
The new €114 million facility with Danske Bank has a lower margin and a longer maturity than before. It also includes a facility for further acquisitions that the company has identified and that are likely to be carried out in the Spring.
"We are very happy to be able to continue the execution of the business plan we set out for Cibus at the time of the IPO in an even quicker pace than anticipated. The new credit facility will allow us to continue the expansion of the portfolio as planned. We also aim at refinancing the third senior loan during this year." says Patrick Gylling, Chairman of the Board of Cibus.
Prior to this renegotiation, Cibus made two small transactions around new year. One small, non-core asset was sold in December and a new K-Market asset in Mäntsälä was acquired in February. These transactions have no material impact on the cash flow and operations of the company.
15 February 2019
For further information, please contact:
Patrick Gylling, Chairman of the Board, Cibus Nordic Real Estate (+358 40 54 26 397)
Cibus is a real estate company listed on Nasdaq First North in Stockholm. The company's business idea is to acquire, develop and manage high quality properties in the Nordics with reputable grocery and discount store chains as anchor tenants. The company currently owns 132 properties in Finland. The main tenants are Kesko (58% of the properties), Tokmanni (28%) and S-Group (8%). An additional 6% of the properties are let to other daily-goods operators such as Lidl. FNCA Sweden AB, +46(0)8-528 00 399 [email protected], is appointed Certified Adviser.
Om Cibus
Cibus affärsidé är att förvärva, förädla och utveckla högkvalitativa fastigheter i Norden med välrenommerade livsmedelsbutiker och dagligvarukedjor som ankarhyresgäster för att kunna ge en stabil, konjunkturoberoende och ökande utdelning till våra aktieägare.
Prenumerera
Få löpande information från Cibus via e-post.