German Loan Extension

RNS Number : 4460K

Capital & Regional plc

15 July 2011

 



15 July 2011

Capital & Regional plc

German Loan Extension

Capital & Regional is pleased to announce that its German joint venture has entered into an extension agreement to extend the maturity of the €162.3 million debt in one of its portfolios which matured this month, by three years. The extension is subject to meeting a number of financial and other covenant tests beginning at the end of the first year. 

Further details will be provided in the Group's interim results statement which will be issued on 23 August.

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For further information:

Capital & Regional:

Hugh Scott-Barrett, Chief Executive                                      Tel:  [phone]

Charles Staveley, Finance Director                                       Tel:  [phone]

 Maitland

Martin Leeburn                                                                        Tel:  [phone]

Richard Farnsworth                                                                Tel:  [phone]

Notes to editors:

About Capital & Regional plc

Capital & Regional is a specialist property company with a track record of developing asset management opportunities in town centre shopping centres and out of town retail parks.

Capital & Regional founded The Mall and The Junction funds in conjunction with Aviva Investors. Capital & Regional acts as Property and Asset Manager for the Mall and Junction funds and holds 16.7% and 13.4% respectively of these funds.

Capital & Regional & AREA Property Partners each hold a 50% interest in a German retail property portfolio which is managed by Garigal Asset Management GmbH, in which Capital & Regional holds a 30% interest. 

Capital & Regional also has an 11.9% stake in the X-Leisure fund, which is managed by X-Leisure Limited in which Capital & Regional holds a 50% interest.

Capital & Regional has a number of other joint ventures and wholly-owned properties.

For further information see www.capreg.com

 

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