Business
DEBT REFINANCING UPDATE
DEBT REFINANCING UPDATE.
About this update from Supermarket Income Reit Plc
[{"type":"text","content":"\n \n \n \n 21 March 2023\n \n \n \n \n \n \n \n \n \n SUPERMARKET INCOME REIT PLC\n \n \n \n \n (the \"Company\") \n \n \n LEI: 2138007FOINJKAM7L537 \n \n \n \n DEBT REfinancing update\n \n \n \n \n \n \n Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces that it has refinanced its existing loan facilities with Bayerische Landesbank (\"BLB\") with a new three year £86.9 million term loan.\n \n \n \n \n \n This secured, interest-only, loan replaces the three existing tranches with BLB totalling £86.9 million. The new facility matures in March 2026 and is priced at a margin of 1.65% above SONIA which has been fully hedged for the term of the facility using an interest rate swap to a fixed rate of 4.29% (including margin).\n \n \n \n \n \n The cost of the hedging instrument for the new facility was £2.8 million. This was more than fully covered from the £3.3 million of proceeds received from the termination of the previous hedging instrument in place for the existing facilities.\n \n \n \n \n \n 100% of the Company's drawn debt is fixed, with a weighted average cost of debt of 2.9%.\n \n \n \n \n \n \n Ben Green, Director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT plc, said: \n \n \n \n \n \n \n \n \"\n We are pleased to continue our relationship with Bayerische Landesbank which has been a key debt funding partner to the Company. Refinancing all of the existing facilities with BLB has allowed the Company to extend the term to three years and achieve a competitive cost of finance.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n FOR FURTHER INFORMATION\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Atrato Capital Limited\n \n \n \n \n \n \n \n +44 (0)20 3790 8087 \n \n \n \n \n \n \n Steve Noble / Rob Abraham / Chris McMahon\n \n \n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n Stifel Nicolaus Europe Limited\n \n \n \n \n \n \n \n \n \n \n +44 (0)20 7710 7600 \n \n \n \n \n \n \n Mark Young / Matt Blawat / Rajpal Padam \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Goldman Sachs International\n \n \n \n Jimmy Bastock / Tom Hart...