11 Jul 2019 17:07
11 July 2019
Yew Grove REIT plc
(the "Company" or "Yew Grove")
Revolving Loan Facility Increase
Yew Grove REIT plc (LSE:YEW, Euronext:YEW), which owns a diversified portfolio of Irish commercial property assets, is pleased to announce that it has agreed a €9.12 million increase to its three year floating rate loan facility (the "Facility") with Allied Irish Banks, p.l.c. ("AIB") based upon a margin over -three month Euribor. The Facility is in place until December 2021 and is secured on certain of Yew Grove's properties. This increase brings the total Facility to €29.1 million, of which €22.8 million has been drawn as at the date of this announcement.
As noted in the Company's investment policy, the Facility will be used to part finance the Company's acquisition of future properties and to enhance investment returns, including dividends to shareholders.
Enquiries:
Yew Grove REIT plc | Tel: 353 (1) 480 3960 | ||||
Jonathan Laredo, Chief Executive Officer | |||||
Michael Gibbons, Chief Investment Officer | |||||
Charles Peach, Chief Financial Officer | |||||
Investec Bank plc | |||||
NOMAD & Joint Broker: David Anderson, Darren Vickers | Tel: +44 (0) 20 7597 5970 | ||||
ESM Advisor & Joint Broker: Tommy Conway, Eoin Kennedy
| Tel: +353 (1) 421 0000
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Goodbody Stockbrokers | |||||
Joint Broker: David Kearney, Joe Gill | Tel +353 (1) 667 0400 | ||||
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IFC Advisory Financial PR Tim Metcalfe, Graham Herring, Heather Armstrong | Tel +44 (0) 203 934 6634 | ||||
Notes to editors:
Yew Grove REIT plc, quoted on the London Stock Exchange's AIM and Euronext Dublin, is an Irish commercial real estate company invested in a diversified portfolio of Irish commercial property. Yew Grove has a particular focus on well-tenanted commercial real estate assets comprising of office and industrial assets outside of Dublin's Central Business District.
Yew Grove's highly experienced team has a proven track record in commercial property investment in Ireland and internationally, and is focused on delivering results. Its investment approach is strategic, not speculative, principally on assets that are let, pre-let or to be let after refurbishment. Shareholders are provided with stable, long-term income from a diverse portfolio of commercial property comprising well-tenanted real estate in strategic centres let to Irish government entities and other state bodies, IDA Ireland supported and other FDI companies, and larger corporates.
ENDS