Custodian REIT plc : Extension of Revolving Credit Facility (768081)
January 22 2019 - 1:01AM
UK Regulatory
Dow Jones received a payment from EQS/DGAP to publish this press
release.
Custodian REIT plc (CREI)
Custodian REIT plc : Extension of Revolving Credit Facility
22-Jan-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
22 January 2019
Custodian REIT plc
("Custodian REIT" or "the Company")
Extension of Revolving Credit Facility
Custodian REIT (LSE: CREI), the UK property investment company, is pleased
to announce the extension of its revolving credit facility ("RCF").
On 25 February 2014, the Company agreed a RCF of GBP25 million with Lloyds
Bank plc ("Lloyds") for a term of five years, and on 13 November 2015, the
total funds available under the RCF were increased from GBP25 million to GBP35
million with the termination date extended to 13 November 2020. The RCF is
secured by way of a first charge over a discrete portfolio of properties,
providing the lender with a maximum loan to value ("LTV") ratio of 50% on
those properties specifically charged to it and a floating charge, with
interest cover of at least 250% LTV. Under the terms of agreement, the
Company pays interest of 2.45% above three-month LIBOR per annum on the
outstanding amounts utilised under the agreement from time to time.
On 14 January 2019 the Company and Lloyds agreed to increase the total funds
available under the RCF from GBP35 million to GBP45 million until 30 June 2019,
to provide the Company with additional capacity for property acquisitions.
Commenting on the extension of the RCF, Richard Shepherd-Cross, Managing
Director of Custodian Capital Limited (the Company's discretionary
investment manager), said:
"Securing additional short-term debt capacity will provide flexibility to
exploit any acquisition opportunities arising over the next six months."
-Ends-
For further information, please contact:
Custodian Capital Limited
Richard Shepherd-Cross / Nathan Tel: +44 (0)116 240 8740
Imlach / Ian Mattioli MBE
www.custodiancapital.com [1]
Numis Securities Limited
Nathan Brown / Hugh Jonathan Tel: +44 (0)20 7260 1000
www.numiscorp.com
Camarco
Ed Gascoigne-Pees Tel: +44 (0)20 3757 4984
www.camarco.co.uk
Notes to Editors
Custodian REIT plc is a UK real estate investment trust, which listed on the
main market of the London Stock Exchange on 26 March 2014. Its portfolio
comprises properties predominantly let to institutional grade tenants on
long leases throughout the UK and is characterised by properties with
individual values of less than GBP10 million at acquisition.
The Company offers investors the opportunity to access a diversified
portfolio of UK commercial real estate through a closed-ended fund. By
targeting sub GBP10 million lot size, regional properties, the Company intends
to provide investors with an attractive level of income with the potential
for capital growth.
Custodian Capital Limited is the discretionary investment manager of the
Company.
For more information visit www.custodianreit.com [2] and
www.custodiancapital.com [1].
ISIN: GB00BJFLFT45
Category Code: MSCM
TIDM: CREI
LEI Code: 2138001BOD1J5XK1CX76
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 7216
EQS News ID: 768081
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=768081&site_id=vwd_london&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=768081&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
January 22, 2019 02:01 ET (07:01 GMT)
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