Funding

Debt

Reducing our cost of capital by optimising gearing on
high quality real estate with secure cash flows

Debt structure

The Board is responsible for the level of gearing across the Group, which is managed on an ongoing basis to ensure that debt levels remain sustainable. We manage our debt by both raising finance from a number of financial institutions and spreading maturities. These measures allow MAS to mitigate associated risk and secure a long term financing structure.

MAS uses debt to maximise shareholder returns in two ways, firstly, by securing financing at lower yields than the cost of equity, and by increasing capital which is used to invest in additional high quality commercial real estate.

Equity

On 18 December 2014 MAS Real Estate Inc migrated its listing from the AltX to the Main Board of the Johannesburg stock exchange. MAS is a dual listed company and is also listed on the Euro-MTF of the Luxembourg stock exchange.

There are currently 564,008,365 shares in issue.