Hibernia in negotiations to set up debt facilities

Hibernia REIT — one of the new breed of property investment funds to have floated in the past year — is in negotiations with a number of potential lenders in the hope of establishing debt facilities to be used to fund its purchasing activity.

In its latest trading update, issued yesterday, Hibernia said that it was considering “all available funding options — including debt, equity and joint ventures, as would be expected in the ordinary course of business”.

However, speaking to journalists following the company’s inaugural public AGM yesterday, its chief executive, Kevin Nowlan, was more specific and said that putting facilities in place for debt financing would be “the natural next step” for the business.