Extension of Credit Facilities  

€ 200 million
Sole Financial Adviser
;

Vastned

Sole Financial Adviser

Kempen & Co acted as Sole Financial Adviser to Vastned in successfully completing an extension of credit facilities to September 2025. By doing so, Vastned increases the duration of €200 million in existing facilities by one year. The conditions of these facilities remain unchanged during the agreed extension period, allowing Vastned to continue to benefit from a cost of debt which was locked in at attractive rates

Transaction highlights

  • Vastned has successfully completed a twelve month extension of credit facilities, thereby increasing the duration of €200 million in existing facilities to September 2025
  • The facilities’ terms and conditions remain unchanged during the agreed extension period, thereby locking in an attractive rate for the extended facilities
  • This transaction reduces Vastned’s maturities in 2024 by almost 40% 
  • Kempen & Co assisted Vastned in the dialogue with its lenders and managed the overall process management and closing of the transaction
  • Kempen & Co acted as sole financial adviser to Vastned 

About Vastned

  • Vastned is a listed European retail property company with assets in the Netherlands, France, Spain and Belgium
  • The company invests in selected cities in Europe with a clear focus on the best retail property in the most popular high streets of selected European cities with a historic city center
  • Vastned’s property clusters have a strong tenant mix of international and national retailers, food & beverage entrepreneurs, residential tenants, and office tenants. The total property portfolio had a value of approximately €1.5 billion on 30 June 2022

Kempen & Co Real Estate credentials

  • Kempen & Co has advised on more than €105bn real estate transactions across 15 different countries in Europe. Since 2020 to date, Kempen & Co advised on >110 transactions across different countries, representing a total deal value of >€30bn in a challenging and unprecedented pandemic environment
  • This transaction marks our fifth Debt Advisory transaction this year in European Real Estate as we continue to support our clients active in the sector

Contact

Guus de Haan

Transactions