Instone Group concludes new revolving credit facility for EUR 100 million
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Instone Group concludes new revolving credit facility for EUR 100 million
- Conclusion of a new revolving credit facility for EUR 100 million with a term of three years plus extension options
- Option to increase to up to 150 million euros during the term
- Credit line is primarily placed in the savings bank sector, arranged by Sparkasse Hannover
- Strategic importance with regard to the acceleration of property acquisitions
Essen, 9 January 2025: Instone Real Estate Group SE (‘Instone Group’) has concluded a new revolving credit facility for EUR 100 million. The facility has a term of three years and replaces a credit line which expired in December 2024. Two one-year extensions and an increase of up to 150 million euros are possible during the term. Sparkasse Hannover has arranged the credit facility and placed the credit line primarily in the savings bank sector.
“The new credit line is an excellent addition to our existing corporate financing, which is primarily based on unsecured promissory note loans,” says David Dreyfus, CFO of Instone Real Estate Group SE. “The savings bank sector in particular has proven to be a reliable financing partner even in difficult economic times,” Dreyfus continues. He also underlines the strategic importance of the facility: “In addition to our high liquidity, which amounts to around EUR 270 million as of 30 September 2024, this credit line enables us to act more quickly when acquiring land. This gives us a decisive competitive advantage.“
The new credit line strengthens Instone Group's position as one of the leading players in the residential property market and underlines its ability to operate successfully in the long term, even in a challenging economic environment.
Press Contact: Instone Group Franziska Jenkel Chausseestr. 111, 10115 Berlin, Germany Phone: +49 (0)30/6109102-36 Mail: presse@instone.de
Instone Real Estate Group SE Registered office in Essen, registered in the trade register of the Local Court of Essen under Trade Register B 32658. Management Board: Kruno Crepulja (CEO), David Dreyfus, Andreas Gräf
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