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1 Nov 2012 07:00
1 November 2012
ALPHA UK MULTI PROPERTY TRUST PLC (the "Company")
Update on Loan Facilities
CHIP (One) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited
The loan facility of £51.4 million provided by Bank of Scotland in respect of the Company's wholly owned subsidiaries, CHIP (One) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited), expired on 31 October 2012.
The Company announces today that CHIP (One) Limited, CHIP (Three) Limited, CHIP (Four) Limited and CHIP (Five) Limited) have agreed with Bank of Scotland to amend the loan facility agreement such that the term of the facility is extended to 31 January 2013.
The facility is non-recourse to the Company.
Discussions with Bank of Scotland and alternative banks and providers of capital are continuing in order to pursue a further extension to, or refinancing of, this loan facility.
The associated interest rate swap contract for £47.0 million provided by Bank of Scotland expired on 31 October 2012. There are no current intentions to enter into a further swap agreement.
Further information will be provided with the Company's Interim Management Statement.
Contact:
Jonathan Clague
Chairman, Alpha UK Multi Property Trust Plc
Tom Pissarro
Fund Manager, Alpha Real Capital LLP
020 7268 0300
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