Extension of Credit Facilities
Vastned
Sole Financial AdviserKempen & 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
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