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Yew Grove REIT PLC (YEW)

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Thursday 11 July, 2019

Yew Grove REIT PLC

Revolving Loan Facility Increase

RNS Number : 2969F
Yew Grove REIT PLC
11 July 2019
 

11 July 2019

 

Yew Grove REIT plc

 

(the "Company" or "Yew Grove")

 

Revolving Loan Facility Increase

 

Yew Grove REIT plc (LSE:YEW, Euronext:YEW), which owns a diversified portfolio of Irish commercial property assets, is pleased to announce that it has agreed a €9.12 million increase to its three year floating rate loan facility (the "Facility") with Allied Irish Banks, p.l.c. ("AIB") based upon a margin over -three month Euribor. The Facility is in place until December 2021 and is secured on certain of Yew Grove's properties. This increase brings the total Facility to €29.1 million, of which €22.8 million has been drawn as at the date of this announcement.

 

As noted in the Company's investment policy, the Facility will be used to part finance the Company's acquisition of future properties and to enhance investment returns, including dividends to shareholders.

 

 

Enquiries:

Yew Grove REIT plc


Tel: 353 (1) 480 3960

Jonathan Laredo, Chief Executive Officer



Michael Gibbons, Chief Investment Officer



Charles Peach, Chief Financial Officer






Investec Bank plc



NOMAD & Joint Broker:

David Anderson, Darren Vickers


Tel: +44 (0) 20 7597 5970

ESM Advisor & Joint Broker:

Tommy Conway, Eoin Kennedy

 


Tel: +353 (1) 421 0000

 

 

Goodbody Stockbrokers



Joint Broker:

David Kearney, Joe Gill


Tel +353 (1) 667 0400




 

IFC Advisory

Financial PR

Tim Metcalfe, Graham Herring, Heather Armstrong


Tel +44 (0) 203 934 6634

 

Notes to editors:

Yew Grove REIT plc, quoted on the London Stock Exchange's AIM and Euronext Dublin, is an Irish commercial real estate company invested in a diversified portfolio of Irish commercial property. Yew Grove has a particular focus on well-tenanted commercial real estate assets comprising of office and industrial assets outside of Dublin's Central Business District.

Yew Grove's highly experienced team has a proven track record in commercial property investment in Ireland and internationally, and is focused on delivering results. Its investment approach is strategic, not speculative, principally on assets that are let, pre-let or to be let after refurbishment. Shareholders are provided with stable, long-term income from a diverse portfolio of commercial property comprising well-tenanted real estate in strategic centres let to Irish government entities and other state bodies, IDA Ireland supported and other FDI companies, and larger corporates.

 

ENDS

 


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