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LONDON (Alliance News) - AEW UK REIT PLC Friday said it has secured a GBP40 million five-year term loan facility with RBS International.
The company said it will use the facility to continue its investment process once net IPO proceeds have been fully invested and to provide gearing of up to 20% loan to net asset value measured at drawdown.
"We are pleased to have secured this facility with RBSi which will allow the company to continue to invest and realise the strong pipeline of interesting opportunities that we are currently seeing in the market. We continue to make good progress with transactions in line with our deployment timetable and expect to be able to make further announcements very shortly," Portfolio Manager Alex Short said in a statement.
Shares in AEW closed flat at 100.98 pence on Friday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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