Hibernia REIT PLC signed a refinancing agreement for its €400 million secured revolving credit facility.

The new deal comprises a €320 million unsecured revolving credit facility and a €75 million unsecured U.S. private placement of notes.

The five-year unsecured revolver was arranged by Bank of Ireland, Wells Fargo, Barclays Bank Ireland and Allied Irish Banks, with a margin of 2.0% over the euro interbank offered rate.

Bank of Ireland and Wells Fargo are also serving as joint coordinators for the facility.

Meanwhile, the €75 million of notes have an average maturity of 8.5 years and carry a weighted average fixed coupon of 2.53%. The notes will be placed with a single institutional investor in two tranches: €37.5 million of 2.36% notes due 2026 and €37.5 million of 2.69% notes due 2029.

The note purchase deal was signed Dec. 18 and is scheduled to close Jan. 23, 2019, according to a release.

The €400 million secured facility was the real estate investment trust's sole debt facility. The loan was previously repayable in November 2020 and carried a margin of 2.05%.