CA Immo handles EUR 700 million of loans in first half of 2017
In the first six months of 2017, CA Immobilien Anlagen AG extended, refinanced and concluded loans worth an approximate total of EUR 700 million.
This February, for example, a corporate bond was placed with a term of seven years, a volume of EUR 175 million and a coupon of 1.875 percent with a view to superseding costly loans of approximately EUR 150 million prematurely in Eastern Europe.
In addition, bank financing for the long term totalling around EUR 318 million was extended early in the past six months. Thanks to these measures, CA Immo has succeeded in reducing its annual borrowing costs by around EUR 3.7 million on the previous year while raising the average terms of the loans to around six years as things stand.
As CA Immo Chief Financial Officer Dr. Hans Volkert Volckens says, “We are pleased to have secured the positive operational development of CA Immobilien Anlagen AG by means of long-term, interest-optimised financing. We have consistently taken advantage of the record low interest levels we have at present while significantly improving our financing costs and loan periods.”