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Extension of the Company's Debt Facility

Tue, 5th Jul 2016 11:51

AXA PROPERTY TRUST LTD - Extension of the Company's Debt Facility

PR Newswire

London, July 5

5 July 2016

AXA Property Trust Limited

Extension of the Company’s Debt Facility

In view of the targeted disposal timetable for the Company’s remaining real estate assets, the Board of AXA Property Trust Limited is pleased to announce that the Company has agreed and concluded an extension of the Company’s loan facility with its co-lenders. The terms of the extension are as follows:

Remaining loan EUR 17,964,525
Maturity date 31 December 2016
Loan-to-value (LTV Test) 42.6% (60% maximum limit) Based upon bank valuation as at 31 March 2016
Margin 240 bps
Extension fee EUR 90,000
All-in rate EURIBOR 3M + 240bps
Amortisation None

Under the terms of the extension net sales proceeds and rents from the portfolio will be used to repay the debt in priority to shareholder distributions. Enquiries: All Enquiries: Investment Manager AXA Investment Managers UK Limited Broker Services 7 Newgate Street London EC1A 7NX Tel: +44 (0)20 7003 2345 Email: broker.services@axa-im.com Corporate Broker Stifel Nicolaus Europe Limited 150 Cheapside London EC2V 6ET Tel: +44 (0)20 7710 7600 Company Secretary Northern Trust International Fund Administration Services (Guernsey) Limited Trafalgar Court Les Banques St Peter Port GY1 3QL Tel: +44 (0)1481 745324

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