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€100m loan to grow Goodman European logistics

BNP Paribas, ING Bank and RBS have arranged a new €100m revolving credit facility for Goodman European Logistics Fund. GELF will use the five-year finance for general corporate purposes as well as acquisitions. "The new revolving credit facility addes to GELF's financial flexibility, allowing GELF to respond rapidly without the need for property-specific financing arrangements when suitable investment opportunities arise," said fund manager Emmanuel Van der Stichele.

BNP Paribas, ING Bank and RBS have arranged a new €100m revolving credit facility for Goodman European Logistics Fund.  GELF will use the five-year finance for general corporate purposes as well as acquisitions.

“The new revolving credit facility addes to GELF’s financial flexibility, allowing GELF to respond rapidly without the need for property-specific financing arrangements when suitable investment opportunities arise,” said fund manager Emmanuel Van der Stichele.

GELF has a €2.3bn portfolio spread across 11 countries.  Last November, the fund issued a €400m, 7-year Eurobond which it is using to repay existing debt and support its plan to increase in size and scope; the coupon on the bond was 1.75%.

According to GELF, the new facility is structured to be a platform for medium-term financing, supporting further issuance of debt in the capital markets.

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