NSI secures new €50m 8-year funding with 1.4% coupon

NSI N.V. has agreed to issue €50 million of 8-year unsecured notes to Athene, affiliate of Apollo Global Management. The notes are Euro denominated and have a fixed coupon of 1.4%.

As a result of this issue, NSI will have extended its average debt maturity from 4.6 years at the end of March 2021 to 5.0 years at the end of June 2021. The average cost of debt will remain flat at 2.0%. The deal is in line with NSI’s treasury strategy to lengthen and spread its debt maturities and to diversify its investor base.

Alianne de Jong, CFO, commented : “We are very satisfied with this new debt issue at an attractive rate which further enhances our already strong financial capacity, leaving us front-footed in our growth ambitions. We are particularly pleased about Athene’s continued vote of confidence in NSI’s long-term business prospects and strategy.