NSI agrees € 65 million secured financing

NSI N.V. (Euronext: NSI / NL0012365084) - Regulatory news

NSI N.V. has amended and extended its secured loan with Berlin Hyp. In the amended agreement the secured loan’s maturity is set for a new 4-year term, secured against a portfolio of 8 assets, with an improved margin of 136 bps over Euribor, fully hedged for the duration of the loan.

The maturity has been extended to June 2027. This brings the percentage of the interest costs fixed or hedged to 82.1%. NSI’s average debt maturity increases to 4.3 years up from 4.1 years as per Q1 2023 and the average cost of debt will increase to circa 3.1%. With an LTV as per Q1 2023 of 26.4% and no maturities until 2026, NSI is on solid financial footing to execute on its business plan.

Alianne de Jong, CFO: “Against the backdrop of a challenging commercial real estate landscape, this loan extension underscores the resilience of NSI's portfolio, the robustness of its balance sheet, and the enduring relationship it has forged with its funding partners."

NSI was advised by van Lanschot Kempen Investment Banking and NautaDutilh.