Last checked at 6 Nov 2015 17:05
06 November 2015
AEW UK REIT plc
AEW UK REIT PLC SECURES DEBT FACILITY WITH RBSI
The Board of AEW UK REIT plc (the "Company") is pleased to announce that the Company has secured a £40m 5 year term loan facility with RBS International.
The Company, which has approximately £81m invested, is a real estate investment trust, which aims to deliver an attractive total return to shareholders from investing predominantly in a portfolio of smaller commercial properties in the United Kingdom. The Company 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.
The Company will use a CAP based interest rate hedging strategy to protect the Company's distribution profile against interest rate volatility.
Commenting on the Facility, Alex Short, the Company's Portfolio Manager at AEW UK Investment Management LLP, said, "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."
For further information, please contact:
AEW UK Investment Management LLP Dana Eisner/Nicki Gladstone
| 020 7016 4800 |
Capita Company Secretarial Services Limited Marco Murray
| 020 7954 9792 |
Dexion Capital plc Katie Standley | 020 7832 0900 |