Regional REIT Limited £50m Loan Facility Repayment (7712B)
September 25 2018 - 2:00AM
UK Regulatory
TIDMRGL
RNS Number : 7712B
Regional REIT Limited
25 September 2018
25 September 2018
REGIONAL REIT LIMITED
("Regional REIT", the "Group" or the "Company")
GBP50m LOAN FACILITY REPAYMENT
Regional REIT, the UK regional office and industrial property
focused real estate investment trust, today announces it has repaid
GBP50m of the GBP65m 5% ICG Longbow Ltd. loan facility (the
"facility"), which is due to mature August 2019. The remainder of
the facility is expected to be settled by the end of November 2018
from disposal proceeds or refinancing.
The early repayment of the facility was funded by recent
property disposals and in part by the proceeds of the 4.5% 2024
Retail Eligible Bond.
- ENDS -
Enquiries:
Regional REIT Limited
Press enquiries through Headland
Toscafund Asset Management Tel: +44 (0) 20 7845
6100
Investment Manager to the Group
Adam Dickinson, Investor Relations, Regional
REIT Limited
London & Scottish Investments Tel: +44 (0) 141
248 4155
Asset Manager to the Group
Stephen Inglis
Headland PR Consultancy LLP Tel: +44 (0) 20 3805
4822
Financial PR
Francesca Tuckett / Jack Gault
About Regional REIT
Regional REIT Limited (LSE: RGL) is a London Stock Exchange Main
Market traded specialist real estate investment trust focused on
office and industrial property interests in the principal regional
locations of the United Kingdom outside of the M25 motorway.
Regional REIT is managed by London & Scottish Investments,
the Asset Manager, and Toscafund Asset Management, the Investment
Manager, and was formed by the combination of two existing funds
previously created by the Managers as a differentiated play on the
expected recovery in UK regional property, to deliver an attractive
total return to Shareholders and with a strong focus on income.
The Group's investment portfolio, as at 30 June 2018, was spread
across 151 regional properties, 1,294 units and 950 tenants. As at
30 June 2018, the investment portfolio had a value of GBP758.7m and
a net initial yield of 6.4%. The weighted average unexpired lease
term to first break was 3.5 years.
The Company's shares were admitted to the Official List of the
UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the
Group's website at www.regionalreit.com
Cautionary Statement
This document has been prepared solely to provide additional
information to Shareholders to assess the Group's performance in
relation to its operations and growth potential. The document
should not be relied upon by any other party or for any other
reason. Any forward looking statements made in this document are
done so by the Directors in good faith based on the information
available to them up to the time of their approval of this
document. However, such statements should be treated with caution
due to the inherent uncertainties, including both economic and
business risk factors, underlying any such forward-looking
information.
ESMA Legal Entity Identifier ("LEI"): (549300D8G4NKLRIKBX73)
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCQZLFLVKFXBBB
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