Pareto Limited restructures debt to achieve unsecured funding across its entire portfolio

Posted On Wednesday, 06 July 2016 08:26 Published by
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Leading shopping centre investor Pareto today announced it has entered into new unsecured loans with Absa, achieving its ambitious goal of ensuring unsecured finance across its entire portfolio.


Marius Muller, CEO of Pareto, says: “An unsecured loan of this size is a vote of confidence in Pareto’s management, its portfolio, the performance of its properties and the strength its balance sheet.”

The loans, concluded at favourable margins for Pareto, achieved a strategic restructuring of the malls owner’s debt as part of its ongoing programme of active debt management.

Muller reports that, as the next step in this programme, Pareto will seek a credit rating to support its entry into debt capital markets

The beneficial loan deals are the positive outcome of Pareto’s ongoing successful asset and financial management.

As South Africa’s premier shopping centre investor and one of the country’s leading retail property industry players, Pareto has proactively invested in its portfolio to boost performance and create value. In recent years, it has modernised its iconic retail properties with far-sighted redevelopments and strengthened its portfolio through various innovative deals.

Pareto owns an unmatched portfolio of regional and super-regional shopping centres. It is the full owner of Menlyn Park Shopping Centre in the East of Pretoria, Cresta Shopping Centre, Southgate Mall and Value Market, and Westgate Regional Shopping Centre, all in Gauteng.

It also wholly owns The Pavilion in Durban and Mimosa Mall in Bloemfontein.

In Cape Town, Pareto co-owns Tyger Valley Shopping Centre. Pareto also holds 25% of Sandton City and its surrounding assets in Sandton Central. These prime properties include three high-rise office blocks, the Sandton Convention Centre and three hotels: Sandton Sun, The InterContinental Johannesburg Sandton Towers and Sandton Garden Court.

Last modified on Thursday, 07 July 2016 09:11

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