Yew Grove REIT PLC Revolving loan facility (2007L)
December 21 2018 - 1:00AM
UK Regulatory
TIDMYEW
RNS Number : 2007L
Yew Grove REIT PLC
21 December 2018
21st December 2018
Yew Grove REIT plc
(the "Company" or "Yew Grove")
Revolving loan facility
Yew Grove, which invests in a diversified portfolio of well
tenanted Irish commercial property, is pleased to announce that it
has agreed a 3 year floating rate loan facility (the "Facility")
with Allied Irish Banks, p.l.c. ("AIB").
The Facility is for up to EUR19.9 million and is within the loan
to value target of 25 per cent. set by the Board of Yew Grove and
outlined in the Company's admission document. The Facility is
secured on certain of Yew Grove's properties and is available to
the Company until December 2021.
As noted in the Company's investment policy, the Facility will
be used to part finance the Company's acquisition of properties and
to enhance investment returns, including dividends to
shareholders.
Jonathan Laredo, CEO of Yew Grove, commented:
"Having successfully deployed EUR59m since IPO earlier this
year, this new facility means that Yew Grove has available
resources of EUR33m to support the continued acquisition of well
tenanted, well covenanted and high yielding commercial real
estate."
Enquiries:
Yew Grove REIT plc Tel: +353 1 4853950
Jonathan Laredo, Chief Executive
Officer
Michael Gibbons, Chief Investment
Officer
Charles Peach, Chief Financial
Officer
Investec Bank plc
Joint Broker & ESM Advisor Tel: +353 1 421
Tommy Conway, Eoin Kennedy 0000
Joint Broker & NOMAD
David Anderson, Darren Vickers Tel: +44 207 5975970
Goodbody Stockbrokers UC
Joint Broker Tel: +353 1 667
David Kearney, Joe Gill 0400
Tel: + 353 1 662
Hume Brophy 4712
Media Enquiries yewgrove@humebrophy.com
Edel Bach, Karin O'Conor
Notes to editors:
Yew Grove REIT raised gross proceeds of approximately EUR75
million in June 2018 to invest in a diversified portfolio of Irish
commercial property, with a particular focus on well-tenanted
commercial real estate assets comprising office and industrial
assets let to Irish government entities (and other state bodies),
IDA Ireland supported and other FDI companies, and larger
corporates, located in attractive locations in the Dublin suburbs
and catchment area, main regional cities, and IDA business parks
(the "Geographic Target Market").
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contact rns@lseg.com or visit www.rns.com.
END
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