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8 months ago
BRIEF-DIC Asset signs 960 mln euro credit arrangement
December 14, 2016 / 5:42 PM / 8 months ago

BRIEF-DIC Asset signs 960 mln euro credit arrangement

Dec 14 (Reuters) - DIC Asset AG

* Announced today signing of a credit arrangement for eur 960 million for commercial portfolio

* New loan with an overall term of seven years will be used to prematurely repay financing arrangements signed with several banks for commercial portfolio

* Credit arrangement lowers interest rate on commercial portfolio's bank loans to circa 1.7 percent

* Anticipates a one-time negative consolidated income after tax which will amount to approximately eur 35 million

* Estimated cash flow will increase by up to circa eur 40 million p.a. Ceteris paribus in 2017

* Intends to disburse, as planned, an attractive dividend on level of previous years for 2016 financial year

* Projects FFO between eur 55 million and eur 60 million in 2017 financial year Source text for Eikon: Further company coverage:

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