Finnish listed property firm Sponda has signed a secured loan extension with German financier Helaba.
Finnish listed property firm Sponda has signed a secured loan extension with German financier Helaba.
The €85 mln loan has been extended for five years from the original maturity date of spring 2014 to spring 2018.
The margin on the loan corresponds with current market levels and the equity ratio and the interest coverage ratio of the loan are in line with the company's other financial covenants.
Sponda’s office, retail and logistics properties are located in the largest cities in Finland and Russia and the fair value of the portfolio was €3.3 bn at end-March 2013.
