Hoofddorp, the Netherlands,
26
March
2020
|
06:59
Europe/Amsterdam

NSI secures new €40m 10-year funding through MetLife Investment Management

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

NSI N.V. has agreed to issue €40 million of 10-year unsecured notes to clients of MetLife Investment Management (MIM). The notes are Euro denominated and have a fixed coupon of 1.6%. This coupon and maturity are reflective of NSI’s overall business prospects and its attractive credit profile.

As a result of this issue, NSI has extended its average debt maturity from 5.4 years at the end of December 2019 to 5.6 years at the end of March 2020. The average cost of debt will remain flat at 2.0%. The deal is in line with NSI’s treasury strategy to diversify and lengthen its debt maturities and to further diversify its investor base.

NSI is pleased that through partnering with MIM and MIM’s clients it has secured new high-quality investors which will help NSI to plan its capital requirements better given the plans for the years ahead.

About NSI N.V.

NSI N.V. (Euronext: NSI / NL0012365084) is a specialist commercial property investor and the only listed real estate investment trust (REIT) focused on well-located offices in economic growth regions in The Netherlands. The NSI team aims to maximise returns for its shareholders through pro-active management of its investment portfolio, value-add initiatives, and disciplined asset rotation. The portfolio, with a value of over one billion euros, is underpinned by a strong balance sheet, with significant capacity to fund both internal and external growth. By investing in attractive space and a high level of services for its customers, NSI can generate sustainable and growing revenues to support an attractive level of dividends. For more information visit our website: www.nsi.nl.