Business
Proposed Placing
Proposed Placing.
About this update from Supermarket Income Reit Plc
[{"type":"text","content":"\n \nRNS Number : 6421U Supermarket Income REIT PLC 26 October 2017 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE OR ACQUIRE ANY SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, JAPAN OR THE REPUBLIC OF SOUTH AFRICA (UNLESS AN EXEMPTION UNDER THE RELEVANT SECURITIES LAWS IS AVAILABLE) OR IN ANY OTHER JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\n 26 October 2017\nSupermarket Income REIT plc \n(the \"Company\") \nLEI: 2138007FOINJKAM7L537\nPLACING TO FUND ACQUISITION\nThe Board of Directors of Supermarket Income REIT plc is pleased to announce a placing of up to 19,999,999 ordinary shares in the Company, representing 19.99 per cent. of the Company's existing issued share capital, at a price of 100 pence per Placing Share. \nBackground to the Placing\nThe Company was admitted to trading on the London Stock Exchange on 21 July 2017 raising £100 million of gross proceeds. The Company used the net proceeds of the IPO to acquire three supermarket real estate assets in the UK which are let to Sainsbury's and Tesco. The Existing Portfolio provides long-term RPI-linked income from institutional grade tenants and the potential for capital growth through active asset management opportunities. All of the assets in the Company's Existing Portfolio were part of the Company's Target Assets at the time of the IPO and operate both as physical supermarkets and as online fulfilment centres. \nOn 30 August 2017, the Company announced that it had secured a Revolving Credit Facility of £100 million from HSBC. The RCF has an opening margin of 160 basis points over three-month LIBOR which is currently equivalent to a total cost of 2.2 per cent. per annum. \nThe Company seeks to provide its shareholders with an attractive level of inflation-linked income and is targeting an aggregate dividend of 5.5 pence per Ordinary Share for the financial period ending 30 June 2018...