(Alliance News) - BMO Real Estate Investments Ltd said Monday its subsidiary IPT Property Holdings Ltd has signed a new GBP20 million five-year revolving credit facility agreement with Barclays Bank PLC, and is available until March 27, 2025.
The facility is an extension of a previous GBP20 million facility which was in place with Barclays and was due to expire in November.
The interest rate payable is 1.7% per annum over three-month Libor and a commitment fee of 0.68% per annum on the undrawn amount.
Shares in BMO Real Estate Investments closed 21% higher at 68.00 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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