22 Dec 2011 17:00

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The following amendment has been made to the 'Debt Facility' announcement released on 22-12-11 at 14.15 under RNS No 5194U.
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In the first paragraph the word 'President' should have read 'Precedent'.
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All other details remain unchanged.
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The full amended text is shown below.
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To: Company Announcements
Date: 22 December 2011
Company: Standard Life Investment Property Income Trust Limited
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Standard Life Investments Property Income Trust is pleased to announce that it has signed a new 7 year debt facility with RBS subject to completion of standard conditions precedent.
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The existing facility with RBS is due to expire in December 2013 and totalled £84.4m. The new facility will be drawn down in January with hedging arrangements agreed to mitigate interest rate risk over the life of the loan.
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The new facility is on attractive terms for the Company, and the exact rates will be confirmed in January when the full £84.4m is drawn down. The Company will maintain its existing hedge of £72m until December 2013. As at 30 September 2011 the hedge had a fair value liability of £6.9m, and this will trend to £0 over the next 24 months, adding 5p to the NAV per share. The Company intends to enter into a forward hedge for the remaining 5 years of the facility on the £72m, and will also enter into a 7 year swap on the remaining £12.4m drawn down.
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Jason Baggaley, fund manager of the Standard Life Investments Property Income Trust, said " We have always enjoyed a close working relationship with RBS, and are delighted to have been able to agree this new facility well in advance of the expiry of our current facility."
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All enquiries:
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The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
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Renee McIver
Tel: 01481 745324
Fax: 01481 745085
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Jason Baggaley, Standard Life Investments (Corporate Funds) Limited
Tel: 0131 245 2833
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Gordon Humphries, Standard Life Investments (Corporate Funds) Limited
Tel: 0131 245 2735
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