EQS-News
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CPI PROPERTY GROUP – End of Year Message
113 
0 Kommentare- CPI PROPERTY GROUP signed a €404 million loan agreement with BerlinHyp for a 7-year prolongation.
- IMMOFINANZ AG completed a €17.5 million loan increase secured against STOP SHOP retail park assets in Poland.
- CPI PROPERTY GROUP disposed of Olympic Garden and created a joint venture with Best Hotel Properties.
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EQS-News: CPI PROPERTY GROUP / Key word(s): Financing Luxembourg, 29 December 2023 |
CPI PROPERTY GROUP – End of Year Message
CPI PROPERTY GROUP (“CPIPG” or the “Group”) has prepared an update for our stakeholders regarding the Group’s financing, disposals, and capital structure initiatives.
Financing
On 28 December 2023, CPIPG’s subsidiary in Berlin signed an agreement with BerlinHyp regarding a €404 million, 7-year prolongation of a loan that was scheduled to mature in October 2024. The attractive margin on the loan remains unchanged from previous financings. The replacement of the existing loan will take place in October 2024, with the new maturity in October 2031.
Earlier in December, IMMOFINANZ AG completed a €17.5 million increase of an existing loan secured against STOP SHOP retail park assets in Poland. The loan matures in 2027.
A revised table of Group debt maturities for 2024 and 2025 is included below. CPIPG has €354 million of debt maturing in 2024 and €408 million in 2025, for a total of €762 million. The Group’s total liquidity at Q3 2023 was €1.7 billion.
CPIPG Consolidated Debt Maturity Profile, 2024 to 2025
| Month-Year | Bonds | Bank Loans / Other | Month-Year | Bonds | Bank Loans / Other |
| Jan-24 | -- | -- | Jan-25 | -- | 200 |
| Feb-24 | 156 | -- | Feb-25 | 19 | -- |
| Mar-24 | -- | -- | Mar-25 | -- | 75 |
| Apr-24 | -- | -- | Apr-25 | 33 | -- |
| May-24 | -- | -- | May-25 | -- | -- |
| Jun-24 | -- | 14 | Jun-25 | -- | 76 |
| Jul-24 | -- | -- | Jul-25 | -- | -- |
| Aug-24 | -- | -- | Aug-25 | -- | -- |
| Sep-24 | -- | 72 | Sep-25 | -- | -- |
| Oct-24 | -- | 74 | Oct-25 | -- | -- |
| Nov-24 | -- | 38 | Nov-25 | -- | -- |
| Dec-24 | -- | -- | Dec-25 | -- | 5 |
| Total | 156 | 198 | Total | 52 | 356 |
Interest rate hedging
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