Free Trial

REAL ESTATE: Nepi Rockcastle (NEPSJ: BBB/BBB+): Serbian Sale

REAL ESTATE
  • Neutral: NEPSJ confirms the sale of Serbian asset Promenada Novi Sad
  • Proceeds of €177m have settled
  • This was flagged in the H1 Interim report
  • Proceeds will be used to fund development
  • The company's LTV is 32.2% with ICR 5.68x both conservative
  • Curve is +25bs vs MERYFP (LTV 36.9%; ICR 5.5x) reflecting the CEE/Liquidity discount
49 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Neutral: NEPSJ confirms the sale of Serbian asset Promenada Novi Sad
  • Proceeds of €177m have settled
  • This was flagged in the H1 Interim report
  • Proceeds will be used to fund development
  • The company's LTV is 32.2% with ICR 5.68x both conservative
  • Curve is +25bs vs MERYFP (LTV 36.9%; ICR 5.5x) reflecting the CEE/Liquidity discount