20 May 2019 07:00
20 May 2019
AIM: SGM
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Company")
The private rented sector ("PRS") and urban regeneration specialist
Additional £200m of Debt Facilities Secured
for The PRS REIT plc
Sigma, the PRS, residential development and urban regeneration specialist, is pleased to announce that its wholly-owned subsidiary, Sigma PRS Management Limited, has secured a further £200m of debt facilities on behalf of The PRS REIT plc (the "PRS REIT") in its role as Investment Adviser to the PRS REIT. This takes the balance of the PRS REIT's deployable funds to £900m (gross).
A copy of the announcement issued today by the PRS REIT regarding the additional facilities is provided below.
Enquiries:
Sigma Capital Group plc | Graham Barnet, Chief Executive | T: 020 3178 6378 (today) |
| Malcolm Briselden, Finance Director
| T: 0333 999 9926 |
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KTZ Communications | Katie Tzouliadis, Dan Mahoney | T: 020 3178 6378 |
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N+1 Singer(NOMAD and Broker) | James Maxwell, James Moat, Ben Farrow | T: 020 7496 3000 |
The PRS REIT plc
(the "Company" or "PRS REIT")
Debt Facilities
The PRS REIT, the closed-ended real estate investment trust established to invest in new-build homes for the Private Rented Sector ("PRS"), is pleased to announce that a further £200m of debt facilities has been approved with Scottish Widows and Lloyds Bank.
The facilities were negotiated by the Company's Investment Adviser, Sigma PRS Management Limited, and bring the total gross balance of deployable funds available to the Company to £900m. These funds are already fully committed to development sites that, once finished, are expected to create a portfolio of c.5,600 high quality new rental homes. Last week, the Company was pleased to announce that it had taken delivery of its 1,000th home.
For further information, please contact:
The PRS REIT plcSteve Smith, Non-executive Chairman | Tel: 020 3178 6378 (c/o KTZ Communications) |
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Sigma PRS Management LimitedGraham Barnet, Graeme Hogg | Tel: 0333 999 9926 |
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N+1 Singer James Maxwell, James Moat, Ben Farrow | Tel: 020 7496 3000
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StifelMark Young, Neil Winward, Gaudi Le Roux | Tel: 020 7710 7600 |
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G10 Capital Limited (AIFM) Gerhard Grueter | Tel: 020 3696 1302 |
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KTZ Communications Katie Tzouliadis, Dan Mahoney | Tel: 020 3178 6378 |
NOTES TO EDITORS
About The PRS REIT plc(www.theprsreit.com)
The PRS REIT is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. It has raised a total of £500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments.
LEI: 21380037Q91HU97WZX58
About Sigma Capital Group plc(www.sigmacapital.co.uk)
Sigma Capital Group plc is a private rented sector, residential development, and urban regeneration specialist, with offices in Edinburgh, Manchester and London. Sigma's principal focus is on the delivery of large scale housing schemes for the private rented sector. It has a well-established track record in assisting with property-related regeneration projects in the public sector, acting as a bridge between the public and private sectors. Its subsidiary, Sigma PRS Management Limited, is Investment Adviser to The PRS REIT plc.
About Sigma PRS Management Limited
Sigma PRS Management Limited is an appointed representative of G10 Capital Limited which is authorised and regulated by the Financial Conduct Authority (FRN:648953) and is a wholly-owned subsidiary of AIM-quoted Sigma Capital Group plc and is Investment Adviser to The PRS REIT plc. It sources investments and manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy.
SGM.L (SGM)