March 19, 2020 / 6:26 AM / 10 days ago

BRIEF-NSI confirms it will pay final dividend of EUR 1.12 per share

March 19 (Reuters) - NSI NV:

* BUSINESS UPDATE FOLLOWING THE CORONA OUTBREAK

* NSI HAS ALSO AGREED TO ISSUE A NEW EUR 40 MILLION 10-YEAR NOTE NEXT WEEK TO A NEW US INSTITUTIONAL INVESTOR AT A MARGIN IN LINE WITH EARLIER ISSUES

* WE WILL PAY EARLIER COMMUNICATED FINAL DIVIDEND OF EUR 1.12 PER SHARE

* LIQUIDITY POSITION AT END OF MARCH WILL BE EVEN BETTER IN COMPARISON WITH END OF 2019, WITH CIRCA EUR 280 MILLION OF CASH AND COMMITTED UNDRAWN CREDIT LINES AVAILABLE FOR BUSINESS

* THIS WILL EXTEND AVERAGE MATURITY OF OUR DEBT, LOWER AVERAGE COST OF DEBT AND DIVERSIFY MATURITY PROFILE AND INVESTOR BASE

* TOTAL OF APPROXIMATELY €700K (ANNUAL CONTRACTED RENT) OF NEW LEASES HAS ALREADY BEEN SIGNED THAT WILL START LATER IN THE YEAR

* NEW LEASES NOT YET INCLUDED IN THE VACANCY RATE

* NET EFFECT OF ABOVE ACQUISITION, DISPOSAL OF ALL THREE ASSETS HELD-FOR-SALE (AS PER YEAR-END) DURING CURRENT QUARTER AND Q1 EARNINGS WILL RESULT IN COMFORTABLE LTV OF CIRCA 28% AT END-MARCH Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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