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Grit Real Estate Income Group Ltd - pan-African property investment and management company - Says its sustainability-linked debt refinancing and syndication is underway and progressing well. Appoints Standard Bank of South Africa as sole mandated lead arranger over a $306 million debt syndication covering its assets and debt facilities in Mozambique, Zambia, Ghana, and Senegal.
Separately, Grit completes the sale of Absa House in Mauritius through its wholly-owned subsidiary Grit Services Ltd. Disposes of 100% of GSL's interests in BH Property Investments Ltd. Proceeds from sale total $4.2 million which will be put towards the company's revolving credit facilities and further debt reduction.
Current stock price: 32.86 pence, down 3.4% in London on Friday
12-month change: down 29%
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