AEW UK REIT PLC Debt Facility (9312E)
November 06 2015 - 12:05PM
UK Regulatory
TIDMAEWU
RNS Number : 9312E
AEW UK REIT PLC
06 November 2015
06 November 2015
AEW UK REIT plc
AEW UK REIT PLC SECURES DEBT FACILITY WITH RBSI
The Board of AEW UK REIT plc (the "Company") is pleased to
announce that the Company has secured a GBP40m 5 year term loan
facility with RBS International.
The Company, which has approximately GBP81m invested, is a real
estate investment trust, which aims to deliver an attractive total
return to shareholders from investing predominantly in a portfolio
of smaller commercial properties in the United Kingdom. The Company
will use the Facility to continue its investment process once net
IPO proceeds have been fully invested and to provide gearing of up
to 20% loan to Net Asset Value measured at drawdown.
The Company will use a CAP based interest rate hedging strategy
to protect the Company's distribution profile against interest rate
volatility.
Commenting on the Facility, Alex Short, the Company's Portfolio
Manager at AEW UK Investment Management LLP, said, "We are pleased
to have secured this facility with RBSi which will allow the
company to continue to invest and realise the strong pipeline of
interesting opportunities that we are currently seeing in the
market. We continue to make good progress with transactions in line
with our deployment timetable and expect to be able to make further
announcements very shortly."
For further information, please contact:
AEW UK Investment Management
LLP
Dana Eisner/Nicki Gladstone 020 7016 4800
Capita Company Secretarial
Services Limited
Marco Murray 020 7954 9792
Dexion Capital plc
Katie Standley 020 7832 0900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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