The merger between retail investor Vastned with its Belgian subsidiary was announced in May.
Vastned Belgium (Euronext Brussels: VASTB) has announced commitments for 345 million euros in new credit lines in preparation for its planned reverse cross-border merger with parent company Vastned Retail N.V. (Euronext Amsterdam: VASTN). The merger is expected to be completed on January 1, 2025, subject to customary conditions.
The financing will replace 352 million euros in short-term credit facilities maturing in 2025. The new credit lines, agreed with five financial institutions, have terms ranging from three to seven years and will only take effect upon the completion of the merger.
This move aims to optimize the debt structure of the Vastned Group and ensure sufficient liquidity for its operations in the coming years. The company states that the financing has been secured on market-conforming terms and will enhance its financial stability post-merger.
Read also: Vastned Retail and Vastned Belgium announce merger
