31 Mar 2017 07:26
INDUSTRIAL MULTI PROPERTY TRUST PLC (THE "COMPANY")
Update on loan facilities
The Company announces that it entered into a new unsecured loan facility agreement on 30 March 2017 under which Hansteen Holdings plc ("Hansteen") will provide an unsecured loan facility of up to £11,500,000 to the Company, with an interest rate of 10% per annum (the "Hansteen Loan Facility"). The term of the Hansteen Loan Facility expires on 5 December 2018 and there are no prepayment or exit fees on an early repayment of the facility and no arrangement fees. The terms of the Hansteen Loan Facility are otherwise materially the same as the facility agreement entered into between the Company and Alpha Real Trust Limited dated 5 December 2013 (the "ART Loan Facility").
The proceeds of the Hansteen Loan Facility will be applied to fully repay the ART Loan Facility.
This announcement contains inside information.
For further information please contact:
Industrial Multi Property Trust plc
Philip Scales Tel: 01624 681250
Stockdale Securities Limited, Financial Adviser and Broker to Industrial Multi Property Trust
Robert Finlay Tel: 020 7601 6100