Schroder Real Regulatory News (SREI)

Schroder Real Estate Investment Trust Ltd - RCF loan capacity increased to maximise flexibility

PR Newswire

London, January 29

For release 30 January 2019

Schroder Real Estate Investment Trust Limited("SREIT"/ the "Company" / "Group")LEI: 549300ZIJJTMTIIQJP67

Extension of Revolving Credit Facility to Maximise Operational Flexibility

Schroder Real Estate Investment Trust, the actively managed UK-focused REIT, announces that it has expanded its revolving credit facility (‘RCF’) with Royal Bank of Scotland International (‘RBSI’) from £32.5 million to £52.5 million, providing additional undrawn capacity of £20 million. The extension maximises operational flexibility and provides additional capacity for a pipeline of asset management initiatives and future income enhancing acquisitions.

The RCF is an efficient and flexible source of funding due to the margin of 1.6% and the ability to be repaid and redrawn as often as required. The additional loan amount matures in July 2023 and is co-terminus with the existing RCF facility. The Company will increase its interest rate caps as the RCF is drawn down to mitigate the potential risk of rising interest rates.

The Company’s net LTV is approximately 29% based on the last published 30 September 2018 valuation, within the target ratio of 25% to 35%.

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