Business
Payment of Final Capital Entitlement to the ZDPs
Payment of Final Capital Entitlement to the ZDPs.
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n \nRNS Number : 6795M Regional REIT Limited 10 January 2019 \n\n \n10 January 2019\nREGIONAL REIT Limited\n(\"Regional REIT\", \"the Group\" or \"the Company\")\n \n£39.9m Payment of the Final Capital Entitlement to the 6.5% Zero Dividend Preference Shareholders of Regional REIT ZDP plc. \n \n \nRegional REIT, the UK regional office and industrial property focused real estate investment trust, today announces that its wholly owned subsidiary Regional REIT ZDP plc, has paid c. £39.9m to the holders of the 6.5% Zero Dividend Preference shares for their final capital entitlement, which matured on 9 January 2019.\nAs announced on 6 December 2018, following payment to the 6.5% Zero Dividend Preference shareholders, the Group's weighted average cost of borrowing, including hedging costs, has reduced to c.3.5% from c.3.8%. In addition, the unexpired average debt term has been extended to c. 7.1 years from c. 6.4 years.\n- ENDS -\nEnquiries:\n\n\n\nRegional REIT Limited\n\n\n\n\n\n\n\nPress enquiries through Headland\n\n\n\n\n\n\n\n\n\n\n\n\nToscafund Asset Management\n\n\nTel: +44 (0) 20 7845 6100\n\n\n\n\nInvestment Manager to the Group\n\n\n\n\n\n\n\nAdam Dickinson, Investor Relations, Regional REIT Limited\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLondon & Scottish Investments\n\n\nTel: +44 (0) 141 248 4155\n\n\n\n\nAsset Manager to the Group\n\n\n\n\n\n\n\nStephen Inglis\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHeadland PR Consultancy LLP\n\n\nTel: +44 (0) 20 3805 4822\n\n\n\n\nFinancial PR\n\n\n\n\n\n\n\nFrancesca Tuckett / Jack Gault\n\n\n\n\n\n\n \nAbout Regional REIT \nRegional REIT Limited (LSE: RGL) is a London Stock Exchange Main Market traded specialist real estate investment trust focused on office and industrial property interests in the principal regional locations of the United Kingdom outside of the M25 motorway.\nRegional REIT is managed by London & Scottish Investments, the Asset Manager, and Toscafund Asset Management, the Investment Manager, and was formed by the combination of two existing funds previously created by the Managers as a differentiated play on the expected recovery in UK regional property, to deliver an attractive total return to Shareholders and with a strong focus on income.\nThe Group's investment portfolio, as at 30 June 2018, was spread across 151 regional properties, 1,...