Aviva PLC - London-based Blue chip insurer - Global asset management business Aviva Investors provides GBP105 million of refinancing of trust Equites Property Fund Ltd, a South African specialist industrial real estate investment trust.
Via the funding, Aviva Investors increases its existing facility with Equites, which originally completed in 2019. It extends the loan term to 2032.
"The funding will be used by Equites to refinance the development of Colossus, a 340,000 square foot distribution hub near Barnsley, for multinational delivery company Evri Europe GmbH," Aviva Investors explains.
Current Aviva stock price: 437.36 pence, up 0.2% on Thursday
12-month change: down 16%
Current Equites stock price: ZAR17.75, down 0.2% on Thursday
12-month change: down 14%
By Tom Budszus; tombudszus@alliancenews.com
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Aviva (AV.)