Phoenix Spree draws on new loan

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By Mike Turner
17 Sep 2019

Germany’s Phoenix Spree has signed a €240m dual tranche term loan, with the UK-listed Berlin real estate investor drawing down the bulk of the new deal.

The facility is split between a €190m refinancing tranche and a €50m additional facility. 

The refinancing tranche has already been drawn to refinance around €119m of debt. The new loan has a seven year maturity and is structured as a bullet deal, replacing Phoenix Spree’s old amortising debt. 

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