Prologis European Properties (PEPR)
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Publicatie datum
19 dec 2008 - 14:35
Statutaire naam
Prologis European Properties (PEPR)
Titel
ProLogis European Properties to sell two-thirds of its current and future commitment in ProLogis European Properties Fund II as part of its strategic initiatives to enhance liquidity
Bericht
Highlights:
- PEPR disposes of two-thirds of its interest in PEPF II for approximately €43 million, resulting in a saving of €348 million in future equity commitments
- PEPR markets remaining one-third interest in PEPF II for disposal
- Appointment of independent Board Chairman
- Suspension of dividend payments to preserve between €130 and €150 million in cash in 2009
- Amendment to the Tangible Net Worth Covenant in the €900 million unsecured Credit Facility expected
- PEPR progress on refinancing initiatives for 2009 and 2010 debt maturities
- Intention to request a maturity extension on the December 2010 tranches of the €900 million unsecured Credit Facility
- Progress on discussions to dispose of properties
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Datum laatste update: 07 februari 2025