Gagfah clinches refinancing deal for 2 billion euro loan

FRANKFURT, June 13 Thu Jun 13, 2013 2:38pm EDT

FRANKFURT, June 13 (Reuters) - German real estate group Gagfah obtained refinancing of a loan worth more than 2 billion euros ($2.66 billion) due to mature in August, a spokesman for the company said on Thursday.

The loan will be completely financed through commercial mortgage-backed securities (CMBS), with an interest rate at 2.76 percent, he said.

Gagfah, majority-owned by private equity investor Fortress Investment Group, was able to refinance a 1 billion-euro facility in January.