Loan-to-Value Compliance on Main Loan Facility

RNS Number : 7380I

AXA Property Trust Ld

27 July 2012

 



To: Company Announcements
Date: 27 July 2012
Company: AXA Property Trust Limited
Subject: Loan-to-Value Compliance on Main Loan Facility

Loan-to-Value Compliance

Further to the announcement of 5 July 2012, the Company and its subsidiaries are now in compliance with the 50% LTV covenant test on 2 July 2012 following the prepayment of the loan facility down to €64.62 million.

A further loan prepayment was made on 25 July 2012 following the disposal at Treuchtlingen, Germany, resulting in a new loan balance of €60.56 million and LTV of 49.03%.

The new LTV covenant will be 60% from August 2012 to the end of the facility in July 2016.

All Enquiries:

Sponsor and Broker
Oriel Securities Limited
Joe Winkley/ Neil Winward

Tel: [phone]


Investment Manager
AXA Investment Managers UK Limited
Broker Services
7 Newgate Street
London EC1A 7NX
Tel: [phone]


Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited Trafalgar Court Les Banques St Peter Port Guernsey
GY1 3QL
Tel: [phone]
Fax: [phone]

 

END

 

 

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