- Sirius Real Estate Ltd.
- 18 March 2026 08:45:13
Source: Sharecast
Sirius Real Estate said on Wednesday that the RCF, which has an initial three-year term, has two one-year extension options and an accordion feature allowing the facility to be increased by up to an additional €100m.
The FTSE 250-listed firm stated that pricing remained unchanged versus its original €150m RCF, with a margin of 120bps over short term EURIBOR. Covenants remain as per the original facility and were aligned, where possible, to Sirius' 2032 bond issued in January 2025. The group's weighted average cost of debt remains at 2.5%.
Sirius noted that RCF further diversified its banking relationships, adding Barclays as lenders for the first time, alongside the original RCF's participating banks, ABN Amro, BNP Paribas and HSBC.
It also said the facility "significantly enhances" financial flexibility, allowing it to continue to take advantage of "supportive long-term market tailwinds" and its "strong acquisition pipeline".
Chris Bowman, CFO, commented, "Alongside our recent equity fundraise, this significantly increased RCF provides additional flexibility to capitalise on our exciting pipeline of opportunities and manage our balance sheet efficiently. It also diversifies our debt relationships by adding Barclays to our lender roster. Importantly, this new facility demonstrates the strong support we continue to receive from existing and new financing partners."
As of 0845 GMT, Sirius Real Estate shares were up 0.50% at 100.30p.
Reporting by Iain Gilbert at Sharecast.com
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