Schroder Real Estate Investment Trust Ltd - Refinancing of Long Term Debt Completed
16 Ottobre 2019 - 8:00AM
PR Newswire (US)
For release 16 October 2019
Schroder Real Estate Investment
Trust Limited
("SREIT"/ the "Company" / "Group")
REFINANCING OF
LONG TERM DEBT COMPLETED
Following the announcement on 8 October
2019, Schroder Real Estate Investment Trust, the actively
managed UK-focused REIT, announces that it has set the final
interest rate and break cost under its new loan with Canada Life
Investment. The final key loan terms are:
- £129.6 million fixed rate loan extended from 8.5 to average
16.5 years
- Reduction in the total interest rate from 4.4% to 2.5% per
annum, generating an immediate interest saving of £2.5 million per
annum
- Negotiated break cost of £25.8 million funded by cash realised
from disposals
- Interest saving to be paid to shareholders as an increased
dividend of £16.0 million per annum, equating to an increase of
19%, starting at the period 1 October
2019
-ENDS-
For further information:
Schroder Real Estate
Investment Management Limited:
Duncan Owen / Nick Montgomery / Frank Sanderson |
020 7658 6000 |
Northern
Trust:
Andy Dovey / James Machon |
01481 745529 |
FTI
Consulting:
Dido Laurimore / Richard Gotla |
020 3727 1000 |
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