PEPR closes new GBP86 million four-year secured bank loan with
Eurohypo AG
(Thomson Reuters ONE) - News releaseProLogis European Properties closes new £86 million four-year secured bank loan with Eurohypo AGLuxembourg - 27 July 2009 - ProLogis European Properties (Euronext:PEPR), Europe's largest owner of modern distribution facilities,announced today that it has closed and received funding for a newfour-year secured bank loan facility for £86.145 million (c. ?100million) with Eurohypo AG, in line with the announcement made on 23July 2009. Net proceeds from the loan will be used to reduceoutstanding debt.The £86 million loan facility is secured on a portfolio of 15 primeUK distribution facilities and will mature in July 2013, with thepotential to extend for a further year if certain criteria are met inJuly 2013. The key terms of the loan are a fixed rate of 5.93% p.a.,an initial loan-to-value of 50% and no amortisation of loan principaluntil maturity.Peter Cassells, chief executive officer, said: "We are pleased tohave completed this secured financing with Eurohypo, a new lender forPEPR. This transaction demonstrates the attractiveness to lenders ofthe strong and stable cash flows generated by our portfolio ofhigh-quality prime distribution facilities even in the currentdifficult market environment. It also emphasises the ability we haveto take advantage of our access to debt capital markets." -Ends-For further information, please contact:Investor relationsProLogis European Properties +44 207 518 8708Jennifer van der Eem, VP Investor Relationsjvandereem(at)prologis.comMediaM:Communications +44 20 7153 1523 or 7153 1549Ed Orlebar / Charlotte McMullenorlebar(at)mcomgroup.com / mcmullen(at)mcomgroup.comAbout ProLogis European Properties (PEPR)ProLogis European Properties, or PEPR, which listed on EuronextAmsterdam on 22 September 2006, is the largest pan-European owner ofhigh quality distribution and logistics facilities. Established in1999, PEPR is a real estate investment fund (organised as aLuxembourg closed-ended fonds commun de placement) externally managedby a subsidiary of ProLogis (NYSE: PLD), a leading global provider ofindustrial distribution facilities.As at 30 June 2009, PEPR has a portfolio of 232 buildings, covering4.9 million square metres in 11 European countries, with an estimatednet open market value of approximately ?3 billion. The portfolio hasan occupancy level of 96.9% and an average of 3.6 years to the nextlease break or 5.8 years to lease expiry.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 27.07.2009 - 09:00 Uhr
Sprache: Deutsch
News-ID 3982
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