Fixing of debt cost

RNS Number : 0359T

LXI REIT PLC

20 July 2022

 

20 July 2022

LXi REIT plc

(the "Company" or "LXi")

FIXING OF DEBT COST

The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, announces that, following the completion of the merger with Secure Income REIT and the drawing of the £385 million acquisition facility ("the Acquisition Facility"), the Company has fully hedged the cost of the Acquisition Facility using an interest rate cap.  As a result, 100% of the enlarged group's debt is either fixed or capped, with the same maximum all-in rate of 4.1% pa.

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited Simon Lee (Partner, Fund Manager) John White (Partner, Fund Manager) Freddie Brooks (CFO)	Via Maitland/amo
Peel Hunt LLP Luke Simpson/Liz Yong	020 7418 8900
J efferies International Ed Matthews/Tom Yeadon	020 7029 8000
Maitland/amo (Communications Adviser) James Benjamin	07747 113 930 [e-mail]

The Company's LEI is: 2138008YZGXOKAXQVI45

NOTES:

LXI REIT plc invests in UK commercial property assets let, or pre-let, on long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.

The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.

The Company is targeting a dividend of 6.3 pence per ordinary share for the year which commenced on 1 April 2022*.

The Company, a real estate investment trust ( " REIT " ) incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.

The Company is a constituent of the FTSE 250, EPRA/NAREIT and MSCI indices.

Further information on the Company is available at www.lxireit.com

*  This is a target and not profit forecast.

 

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