Instone Group concludes new syndicated loan agreement of over EUR 47.5 million

Instone Real Estate Group SE (“Instone Group”) has concluded a new syndicated loan agreement (term loan) with a volume of EUR 47.5 million. The facility has a term of three years plus two one-year extension options. It can be increased up to EUR 60 million during the term. The loan was arranged by IKB Deutsche Industriebank AG, which placed the syndicated financing in the private and commercial banking sector.

“The new term loan is an essential component of our corporate financing,” says David Dreyfus, CFO of Instone Real Estate Group SE. “As of September 30, we had freely available cash and cash equivalents of EUR 221.5 million as well as unused revolving credit facilities of approximately EUR 138 million. This excellent level of liquidity is now being further strengthened by the new corporate financing of EUR 47.5 million,” adds David Dreyfus, who believes that Instone Group’s liquidity resources put it in an excellent position in the market.

The additional funds will be used for further corporate growth and targeted acquisition of attractive land plots. This gives Instone Group the opportunity to secure projects with above-average margins and returns on capital in a market environment which is currently characterized by low competition.