Debt Facility

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 £40m 5 year term loan facility with RBS International. 

The Company, which has approximately £81m 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

 

END

 

 

MSCUGGCUGUPAGMQ