Debt Facility Amendment

RNS Number : 6228Y

AEW UK REIT PLC

18 May 2016

 

 18 May 2016

AEW UK REIT plc

AEW UK REIT PLC DEBT FACILITY AMENDMENT

The Board of AEW UK REIT plc (the "Company") is pleased to announce that it has completed an amendment to the terms of its existing £40 million 5 year term loan facility with RBS International.

The terms of the facility limit have increased from 20% to 30% of NAV measured at drawdown.  This will enable the Company to utilise the facility up to an amount calculated as the equivalent of 25% of the Gross Asset Value (measured at drawdown).

The Board notes, however, that the maximum gearing limit and anticipated level of total borrowing for the Company remain as set out in the Prospectus dated 23 April 2015,

"The Company intends to utilise borrowings to enhance returns over the medium term. Borrowings will be utilised on a limited recourse basis for each investment or all or part of the total Portfolio and will not exceed 25 per cent. of Gross Asset Value (measured at drawdown) of each investment or Portfolio. It is currently anticipated that the level of total borrowings will typically be at the level of 20 per cent. of Gross Asset Value (measured at drawdown)."

For further information, please contact:

AEW UK Investment Management LLP Kari Clarke	020 7016 4800
Capita Company Secretarial Services Limited Marco Murray	020 7954 9792

 

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