Refinancing Update

To:  Company Announcements

Date:  30 March 2020

Company:  BMO Real Estate Investments Limited

LEI:  231801XRCB89W6XTR23

Subject:  Refinancing Update

REFINANCING UPDATE

Further to the announcement of the Interim Results on 26 March 2020 by BMO Real Estate Investments Limited (the "Company") the Board can now confirm that IPT Property Holdings Limited, a subsidiary of the Company, has executed a new £20 million 5-year revolving credit facility agreement with Barclays Bank plc which is available until 27 March 2025.

This is an extension of a previous £20 million 5-year revolving credit facility that was in place with Barclays and was due to expire in November 2020. The interest rate that will be payable in respect of the facility is 1.7 per cent per annum over 3-month LIBOR (previously subject to a ratchet mechanism and between 1.45 – 1.70 per cent over 3-month LIBOR) and a commitment fee of 0.68 per cent per annum (previously 0.58 per cent) on the undrawn amount.

The facility is expected to remain undrawn in the near term but will provide the Company with valuable liquidity in the current market environment.

Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]
Fax: [phone]

Peter Lowe
Scott Macrae
BMO Investment Business Ltd
Tel: [phone]
Fax: [phone]