(Sharecast News) - Supermarket Income REIT announced an increase in its unsecured facility with Sumitomo Mitsui Banking Corporation (SMBC) of £37.5m on Wednesday, bringing the total to £104.5m.
The FTSE 250 company said the interest-only facility, set to mature in September 2026, bore interest at a margin of 1.55% above SONIA on the increased amount.
Meanwhile, the existing £67m retained its margin of 1.40% above SONIA, with full hedging for the duration of the facility.
The expansion came on the heels of an acquisition announced on 22 March, and as a result of the increase, the firm now had a pro-forma loan-to-value (LTV) ratio of 34%.
"We are pleased to continue our relationship with SMBC, a key funding partner to the company," said Ben Green, director at the firm's investment adviser Atrato Capital.
"Our strong relationships with existing lenders, and quality of the portfolio, continues to allow the company to access debt financing at attractive margins."
At 0940 BST, shares in Supermarket Income REIT were down 0.81% at 75.98p.
Reporting by Josh White for Sharecast.com.
Supermarket Income (SUPR)