AEW UK REIT plc: Debt Facility Amendment (887155)

 
 AEW UK REIT plc (AEWU) 
AEW UK REIT plc: Debt Facility Amendment 
 
09-Oct-2019 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                                                              9 October 2019 
 
                                                             AEW UK REIT Plc 
 
                          Debt Facility Amendment 
 
    The Board of AEW UK REIT plc ("the Company") today announces that it has 
   completed an amendment to its existing loan documentation which increases 
 the facility's loan to net asset value covenant from 45% to 55% (subject to 
                                                        certain conditions). 
 
The Board notes, however, that the maximum gearing limit and anticipated 
level of total borrowing for the Company remain as set out in its 
Prospectus. As at 30 June 2019 the Company reported a loan to net asset 
value of 33.7% (loan to gross asset value of 25.4%). There will be no 
changes to the Company's overall borrowing levels, or to the margin 
currently charged under the facility, as a result of this amendment. 
 
   The loan, which is from The Royal Bank of Scotland International Limited, 
 has been in place since October 2015. In October 2018, the Company extended 
                   the term of the loan from expiry in 2020 to October 2023. 
 
 Alex Short, Portfolio Manager, AEW UK REIT, commented: "The above amendment 
 provides the Company with a cost effective way of reducing risk in its debt 
        position. We will continue to keep gearing at conservative levels in 
                               accordance with the Company's stated policy." 
 
                                    ENDS 
 
                                                           About AEW UK REIT 
 
   AEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total return to 
    shareholders by investing predominantly in smaller commercial properties 
 (typically less than GBP15 million), on shorter occupational leases in strong 
   commercial locations across the United Kingdom. The Company was listed on 
the Official List of the UK Listing Authority and admitted to trading on the 
   Main Market of the London Stock Exchange on 12 May 2015, raising GBP100.5m. 
                                     Since IPO it has raised a further GBP51m. 
 
 The Company is currently invested in office, retail, industrial and leisure 
          assets, with a focus on active asset management, repositioning the 
                  properties and improving the quality of the income stream. 
 
            AEWU is currently paying an annualised dividend of 8p per share. 
                                                   www.aewukreit.com [1] [1] 
 
                                      About AEW UK Investment Management LLP 
 
AEW UK Investment Management LLP employs a well-resourced team comprising 26 
 individuals covering investment, asset management, operations and strategy. 
   It is part of AEW Group, one of the world's largest real estate managers, 
     with EUR68.2bn of assets under management as at 30 June 2019. AEW Group 
         comprises AEW SA and AEW Capital Management L.P., a U.S. registered 
   investment manager and their respective subsidiaries. In Europe, as at 30 
 June 2019, AEW Group managed EUR31.9bn of real estate assets on behalf of a 
      number of funds and separate accounts with over 400 staff located in 9 
        offices. The Investment Manager is a 50:50 joint venture between the 
principals of the Investment Manager and AEW. In May 2019, AEW UK Investment 
 Management LLP was awarded Property Manager of the Year at the Pensions and 
                             Investment Provider Awards. www.aewuk.co.uk [2] 
 
                                                            AEW UK Enquiries 
 
                                            Alex Short alex.short@eu.aew.com 
 
                                          Laura Elkin laura.elkin@eu.aew.com 
 
                                                             Media Enquiries 
 
                              Nicki Gladstone nicki.gladstone-ext@eu.aew.com 
 
                                                          +44 (0)7711 401021 
 
TB Cardew (Financial PR advisor) aew@tbcardew.com 
 
                                              Ed Orlebar +44 (0) 7738 724630 
 
                                              Tania Wild +44 (0) 7425 536903 
 
                                                                  Disclaimer 
 
    This communication cannot be relied upon as the basis on which to make a 
decision to invest in the Company. This communication does not constitute an 
         invitation or inducement to subscribe to any particular investment. 
 
ISIN:           GB00BWD24154 
Category Code:  MSCM 
TIDM:           AEWU 
LEI Code:       21380073LDXHV2LP5K50 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   22791 
EQS News ID:    887155 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=9220892e63355ca6947a3a3423a3bac8&application_id=887155&site_id=vwd&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c3ab986d9b746ee23c3523d74649f8db&application_id=887155&site_id=vwd&application_name=news
(END) Dow Jones Newswires
October 09, 2019 02:00 ET (06:00 GMT)
Aew Uk Reit (LSE:AEWU)
Historical Stock Chart
From May 2024 to Jun 2024