Business
Debt Facility Limit Increase
Debt Facility Limit Increase.
About this update from Aew Uk Reit Plc
[{"type":"text","content":"\n \nRNS Number : 6096R AEW UK REIT PLC 09 March 2016 \n\n9 March 2016\n \nAEW UK REIT plc\n \nAEW UK REIT PLC DEBT FACILITY LIMIT INCREASE\n \nThe Board of AEW UK REIT plc (the \"Company\") announces that it is considering the option to amend the terms of the Company's existing £40m 5 year term loan facility with RBS International.\n \nThe current terms of the facility limit the loan to 20% of NAV at the point of borrowing and the Directors are considering an increased facility limit equivalent to 25% of GAV.\n \nThe Board notes that the potential increase in the facility would not increase the limit and anticipation for gearing set out in the Prospectus dated 23 April 2015, which states: \"The Company intends to utilise borrowings to enhance returns over the medium term. Borrowings will be utilised on a limited recourse basis for each investment or all or part of the total Portfolio and will not exceed 25 per cent. of Gross Asset Value (measured at drawdown) of each investment or Portfolio. It is currently anticipated that the level of total borrowings will typically be at the level of 20 per cent. of Gross Asset Value (measured at drawdown).\"\n \nThe Board also notes that the potential increase in the facility is sought to allow for greater flexibility in Company's investment activities. A further announcement and additional details will be provided when agreement has been reached with RBS International.\n \n \nEnquiries:\n \n\n\n\n\nAEW UK Investment Management LLP\nKari Clarke\n \n\n\[email protected]\nT: 020 7016 4804\n \n\n\n\n\nCapita Company Secretarial Services Limited\nMarco Murray\n \n\n\[email protected] \nT: 020 7954 9792\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCSSIFWUFMSEFD\n ","length":2987,"tagName":"div"}]