Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Secures a five-year debt refinancing against its five-asset Dutch industrial portfolio. The refinancing is based on a margin of 2.0%, which is 0.15% below the existing margin. Says this reflects the competitive terms offered by four different banks. Elects to extend the facility by a further EUR4.5 million to EUR13.8 million. The new facility has been fixed at 5.3% being the five-year euro swap rate plus 2.0% margin.

Following this transaction, the company's third party debt totals EUR85.5 million across seven loan facilities. "Following on from the successful German office refinancing concluded at the end of 2022, the terms of this new facility are a strong endorsement of our strategy and testament to the relationships we have with existing financing partners as well as our reputation in the market," fund manager Jeff O'Dwyer says.

Current stock price in London: 69.0 pence

12-month change: down 22%

Current stock price in Johannesburg: ZAR16.05

12-month change: down 6.9%

By Artwell Dlamini, Alliance News reporter

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