Business
Renewal of Bank Facility & Notice of Results
Renewal of Bank Facility & Notice of Results.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9242Q\n Real Estate Investors PLC\n 03 March 2021\n \n \n \n \n Real Estate Investors Plc\n \n \n (\"REI\" or the \"Company\" or the \"Group\")\n \n \n \n \n \n Renewal of Bank Facility & Notice of Results\n \n \n \n \n \n Real Estate Investors Plc (AIM: RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of 1.59 million sq. ft. of investment property across all sectors, today announces the refinancing of its existing debt facilities and provides notice of the Company's 2020 Final Results. \n \n \n \n \n \n The Company's £51 million RBS term loan facilities, due to expire in February 2021 (£41 million) and August 2023 (£10 million), have been renewed with National Westminster Bank plc (following its merger with RBS) for a further 3 years at 2.25% above LIBOR, with expiry of this facility due in March 2024, secured on a portfolio of the Group's properties. The average cost of debt across the Group remains at 3.4%.\n \n \n \n \n \n Notice of Full Year 2020 Results\n \n \n \n \n \n REI confirms that its final results for the year ended 31 December 2020 will be released on 30 March 2021.\n \n \n \n \n \n \n \n \n Paul Bassi, Chief Executive, commented:\n \n \n \n \n \n \"This refinancing and our overall maintained cost of debt, demonstrates our excellent banking relationships and access to financing on competitive terms, supporting the Group's strategic objectives.\"\n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n Real Estate Investors Plc\n \n \n Paul Bassi/Marcus Daly\n \n \n \n \n \n \n \n +44 (0)121 212 3446\n \n \n \n \n \n \n \n \n \n Cenkos Securities\n \n \n Katy Birkin/Ben Jeynes\n \n \n \n \n \n \n \n +44 (0)20 7397 8900\n \n \n \n \n \n \n Liberum Capital\n \n \n Jamie Richards/William Hall\n \n \n \n \n \n \n \n +44 (0)20 3100 2000\n \n \n \n \n \n \n Allenby Capital\n \n \n Nick Naylor/Asha Chotai\n \n \n \n \n \n \n \n +44 (0)20 3328 5656\n \n \n \n \n \n \n Novella Communications\n \n \n Tim Robertson/Fergus Young\n \n \n \n \n +44 (0)20 3151 7008\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n About Real Estate Investors Plc\n \n \n \n \n \n Real Estate Investors Plc is a publicly quoted, internally managed property inv...