June 13, 2013 / 6:41 PM / in 4 years

Gagfah clinches refinancing deal for 2 billion euro loan

1 Min Read

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.

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