“The ongoing pandemic is also affecting the financing market. However, due to the quality of our center portfolio, our robust balance sheet structure and our good liquidity position, our financing partners are continuing to provide us with long-term loans, even in this challenging and exceptional situation,” says Olaf Borkers, CFO of Deutsche EuroShop, with satisfaction.
“We are also pleased that several of our loans are now counted by the financing banks within the green bond-eligible portion of their assets. It helps that all our centers have been awarded gold or even platinum certificates by the German Sustainable Building Council (DGNB). The DGNB certification system is considered one of the most advanced in the world and is internationally recognised as a ‘Global Benchmark for Sustainability’.
“In addition, Deutsche EuroShop has been classified as “eligible” by the Deutsche Bundesbank for years now. Companies that receive this assessment on the basis of the Bundesbank’s analysis of creditworthiness can be treated by Eurosystem central banks in the same way as companies that have been assigned “investment grade” by recognised rating agencies. This means that credit claims against Deutsche EuroShop qualify as collateral for monetary policy operations conducted by Eurosystem central banks.
Olaf Borkers: “Only the extension of a loan for €30.0 million is pending in 2021. Three additional loans totalling €226.0 million must be extended in 2022, one loan for €209.1 million in 2023, no loans in 2024 and one loan for €58.7 million in 2025. Given the portfolio quality and the much improved pandemic situation, I am confident that we will get good deals for these as well.”
