Business
REVOLVING CREDIT FACILITY
REVOLVING CREDIT FACILITY.
About this update from Supermarket Income Reit Plc
[{"type":"text","content":"\n \nRNS Number : 2700P Supermarket Income REIT PLC 30 August 2017 \n\nSupermarket Income REIT plc\n(\"Supermarket Income REIT\" or the \"Company\")\n \n30 August 2017\nREVOLVING CREDIT FACILITY\n \nSupermarket Income REIT (LSE: SUPR), the UK supermarket real estate investor, announces that it has secured a Revolving Credit Facility (the \"RCF\") of £100 million from HSBC.\n The RCF is a facility with an initial three-year term and two further one year extension options. Once drawn, the RCF has an opening margin of 160 basis points over 3 month LIBOR which is currently equivalent to a total cost of 2.2% per annum.\n The RCF will provide the Company with flexible capital to fund the growth of the property portfolio while also allowing the Company to manage its capital structure in line with its investment policy. The Company will follow a prudent approach to gearing with medium term borrowings as a percentage of gross assets expected to be approximately 30 to 40 per cent.\n Ben Green, Director of Atrato Capital, the Investment Adviser to Supermarket Income REIT, said: \"We have secured a flexible RCF ensuring we can maintain an efficient balance sheet and enabling us to act quickly on attractive investment opportunities. We were very pleased with the level of bank interest we received on this transaction which reaffirms the strong fundamentals of this asset class.\"\n \nFor further information, please contact:\nAtrato Capital Limited +44 (0)20 3790 8087\nBen Green\nSteve Windsor\nSteve Noble\n \n Stifel Nicolaus Europe Limited +44 (0)20 7710 7600\nMark Young\nNeil Winward\nTom Yeadon \n \n Tavistock +44 (0)2...