Extension of the Company's Debt Facility

5 July 2016

AXA Property Trust Limited

Extension of the Company’s Debt Facility  

In view of the targeted disposal timetable for the Company’s remaining real estate assets, the Board of AXA Property Trust Limited is pleased to announce that the Company has agreed and concluded an extension of the Company’s loan facility with its co-lenders. The terms of the extension are as follows:
 

Remaining loan	EUR 17,964,525
Maturity date	31st December 2016
Loan-to-value (LTV Test)	42.6% (60% maximum limit) Based upon bank valuation as at 31 March 2016
Margin	240 bps
Extension fee	EUR 90,000
All-in rate	EURIBOR 3M + 240bps
Amortisation	None

Under the terms of the extension net sales proceeds and rents from the portfolio will be used to repay the debt in priority to shareholder distributions.


Enquiries:

All Enquiries:
 
Investment Manager 
AXA Investment Managers UK Limited
Broker Services
7 Newgate Street
London EC1A 7NX
Tel: [phone]
Email:[e-mail]

Corporate Broker
Stifel Nicolaus Europe Limited
150 Cheapside
London EC2V 6ET
Tel: [phone]
 
Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
GY1 3QL
Tel: [phone]