NEW £80 MILLION REVOLVING CREDIT FACILITY

RNS Number : 6704M

Supermarket Income REIT PLC

22 January 2021

 

SUPERMARKET INCOME REIT 

(the "Company")

LEI: 2138007FOINJKAM7L537

New £80 million revolving credit facility

Supermarket Income REIT (LSE: SUPR), the real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, announces that is has arranged a new revolving credit facility ("RCF") of £80.0 million with Barclays and Royal Bank of Canada.

The secured, interest only RCF, has a 5 year term (comprising an initial three year term and two further one year extension options) and a margin of 150 basis points over SONIA, representing a total cost of debt of 1.55%. The RCF also includes a £70 million uncommitted accordion option which is exercisable at any time over the term of the facility.

Ben Green, Director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT, said:

"The new RCF facility, secured with two new lenders to Supermarket Income REIT, Barclays and Royal Bank of Canada, provides us with further diversification of competitively priced funding to support the Company's growth."

FOR FURTHER INFORMATION
Atrato Capital Limited	[phone]
Ben Green / Steve Windsor / Steve Noble	[e-mail]
Stifel Nicolaus Europe Limited	[phone]
Mark Young / Matt Blawat
FTI Consulting	[phone]
Dido Laurimore / Eve Kirmatzis / Andrew Davis	[e-mail]

NOTES TO EDITORS:

Supermarket Income REIT plc (LSE: SUPR) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the UK's feed the nation infrastructure. The Company focuses on grocery stores which are omnichannel, fulfilling online and in-person sales. All of the Company's 49 supermarkets⁽¹⁾ are let to leading UK supermarket operators, diversified by both tenant and geography.

The Company provides investors with attractive, long-dated, secure, inflation-linked, growing income with the potential for capital appreciation over the longer term and targets a 7% to 10% p.a. total shareholder return over the medium term⁽²⁾. The Company has increased its dividend target in line with UK RPI inflation each year.

The Company's ordinary shares were admitted to trading on the Main Market of the London Stock Exchange, Specialist Fund Segment, on 21 July 2017.

Atrato Capital Limited is the Company's Investment Adviser.

Further information is available on the Company's website www.supermarketincomereit.com

(1)  23 directly owned supermarkets, plus 26 via joint venture

(2)  There is no certainty that these illustrative projections will be achieved

 

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