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Company Name: Hansteen Holdings PLC

Place of Registration: England and Wales

Registered Number: 05605371

Registered Office Address:

1st Floor, Pegasus House,
37-43 Sackville Street
London W1S 3DL

Telephone: +44 (0)207 408 7000
Fax: +44 (0)207 408 7001

VAT number 872 5613 11

Regional offices

HANSTEEN REFINANCES GERMAN PORTFOLIO WITH NEW €343 MILLION FIVE-YEAR FACILITIES

04 Mar 2014

Hansteen Holdings, the UK and Continental European property investment company, announces that it has refinanced two loans secured against its German portfolio with two new loans totalling €343 million.

The Company’s UniCredit loan, due for repayment in February 2015, has been refinanced with a €235 million five-year facility provided by a consortium of lenders including Landesbank Hessen-Thüringen Girozentrale (Helaba), Natixis Pfandbriefbank AG, SEB AG and various entities managed or advised by AXA REIM SGP. The loan-to-value ratio is 51% with hedging against 80% of the loan which results in an interest cost of 3.5% per annum excluding fees.

The second loan from Lloyds Banking Group, due to expire in October 2014, has been refinanced with a €108 million five-year facility from HSBC plc at a loan-to-value ratio of 48%. The Company has hedged €55 million of the loan with an interest rate swap, resulting in an average interest cost of 2.9% per annum, excluding fees.

Ian Watson, joint chief executive of Hansteen, commented: “It is a testament to the strength of our business model that we have been able to raise two substantial new loans on multi-let industrial property in Germany. The terms equate to less than 4% per annum gross interest costs, including amortised fees, and we are delighted with our new banking relationships.”

For further information:
Morgan Jones/ Ian Watson
Hansteen Holdings PLC
Tel: 020 7408 7000
Jeremy Carey / Faye Walters
Tavistock Communications
Tel: 020 7920 3150