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DIC Asset replaces syndicated loan ahead of schedule

Wednesday, 12/22/2021 6:44 PM from

dpa-AFX

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FRANKFURT (dpa-AFX) – The real estate company DIC Asset (DIC Asset Share) has redeemed a syndicated loan prematurely and refinanced it on more favorable terms. The new loan with a volume of around 550 million euros has a term of seven years, the company announced on Wednesday in Frankfurt. The previous financing ran until the end of 2023. The new loan brings cost savings of 5 million euros annually, which are said to be put into further investments.

The early repayment of the old loan would result in non-FFO one-off expenses, including the payment of early repayment penalties of around 15 million euros. For 2021, DIC Asset expects a consolidated result of around 56 million euros after taxes, taking into account the refinancing. Without taking the one-off effect into account, the adjusted group result would be around 71 million euros./nas/he

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