Hibernia Reit property investment secures €400m credit facility for Dublin market

Property investment company Hibernia Reit has secured a new €400m credit facility that it will look to deploy in the Dublin market as it continues to exploit the value on offer.

Hibernia announced the new revolving credit facility with a syndicate of three banks, Bank of Ireland, Ulster Bank and Barcalys Bank, as it reported a strong set of interim results.

The company reported profit before tax of €73.7m including a significant boost as a result of property revaluations of more than €63m.