UK-based Development Securities said on Thursday that it has completed the refinancing of part of its liability portfolio. It has now prepaid a £34 mln (EUR 44 mln) 8.3% fixed rate, secured term loan that was due for expiry in 2018. As part of the prepayment arrangements, the company paid a settlement amount of £5.9 mln to the loan provider. This amount will be eligible for tax deduction in 2008.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
