Sirius Real Estate announced it has signed the refinancing of its existing BerlinHyp AG facility which was due to expire at the end of March 2014, with a new five year €115 million facility with BerlinHyp and Deutsche Pfandbriefbank AG. The new facility will be secured against nine properties, valued as at 30 September 2013 at €212 million, and will expire on 31 March 2019. It will have a total interest rate of 3.69% of which 50% of the loan is fixed with a 5 year swap and 50% is floating with a cap at 4.5%.  The facility will amortize at an average rate of 2.5% per annum over 5 years and is subject to a 1% arrangement fee.

The new facility also represents the completion of the Company's refinancing programme. The Group has completed four new debt facilities totaling €227 million in the last 15 months, with debt expiries ranging between January 2017 and August 2023. As a result, the weighted average expiry of the group's bank facilities and outstanding secured bonds will increase to 5.5 years along with reducing the group's loan to value to 54%.