New Loan in AUMP and Extension to EUROPIP Loan

RNS Number : 9343U

Alpha Real Trust Limited

06 December 2013

 



6 December 2013

ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE "COMPANY")

new unsecured loan in alpha uk multi property trust ("AUMP")

EXTENSION TO LOAN IN EUROPEAN PROPERTY INVESTMENT PORTFOLIO PLC ("euroPIP")

The Company announces that it has entered into an agreement ("Loan Facility Agreement") in which it will provide an unsecured loan ("Loan") to AUMP for £11.5 million. This sum incorporates a refinance of the loan provided by the Company announced on 1 July 2013 and represents a net additional investment of £4.6 million.

The Loan Facility Agreement is for five years expiring in December 2018 and carries a coupon of 15% per annum.

The Loan is part of a refinance of all AUMP's loan facilities announced by AUMP on 5 December 2013. The Loan is subordinated to a five year £33.5 million senior loan facility and a five year £20.0 million mezzanine loan facility. AUMP's property portfolio was valued at £78.0 million by DTZ Debenham Tie Leung Limited as at 30 September 2013.

Additionally the Company announces it has extended its loan to Europip by 12 months. The loan balance currently stands at £5.1 million including accrued interest and continues to attract a coupon of 9% per annum.

For further information please contact:

Alpha Real Trust Limited

David Jeffreys, Chairman, Alpha Real Trust                                   [phone]

Brad Bauman, Joint Fund Manager, Alpha Real Trust                    [phone]

Panmure Gordon, Broker to the Company

Richard Gray / Andrew Potts                                                      [phone]

Further information on the Company can be found on the Company's website: www.alpharealtrustlimited.com.

 

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