Sirius Real Estate Gets Extension onf 43.3m Euro Loan

Sirius Real Estate said in a statement on Monday that ABN AMRO Bank has agreed to extend the repayment of their outstanding loan of 43.3 million euros to June 28.

The original loan of 91.2 million euros was previously due to be repaid in October 2012, but was extended to April, and now June.

Sirius has reduced the loan balance down to 43.3 million euros and with a further 16.8 million euros of RBS-related disposals under notarisation, taking it down to 26.5 million euros, RBS have now granted the extension to June 28th 2013.

The Company is planning to repay the remaining loan balance using cash generated from further disposals of non-core assets as well as through a refinancing program.