Refinancing of Revolving Credit Facility

NewRiver REIT PLC

16 November 2023

 

NewRiver REIT plc

("NewRiver" or the "Company" or the "Group")

Refinancing of Revolving Credit Facility

NewRiver is pleased to announce that it has refinanced its Revolving Credit Facility ("RCF" or "facility").

●	New £100 million facility, with a £50 million accordion available subject to lender approval (previous facility £125 million with a £50 million accordion)
●	Maturity has been extended from August 2024 to November 2026 with option to extend the facility by two additional one-year terms (to November 2028), subject to lender approval
●	Annual cost has reduced as headline margin and quantum both reduced
●	All four banks in the previous facility have continued to support NewRiver in the new facility, being Barclays Bank PLC, HSBC UK Bank plc, National Westminster Bank plc and Santander UK plc

The Company was advised by Rothschild & Co.

Will Hobman, Chief Financial Officer commented: "We are pleased that the strength of our financial position,  best-in-class asset management platform and well positioned portfolio have been recognised by our key bank lenders, who have each chosen to continue to support the long-standing relationships we have established with them. By extending the RCF term for at least a further three years we will continue to benefit from access to additional liquidity and at the same time by reducing the size and margin of the RCF we have been able to do so at a reduced overall cost."

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NewRiver REIT plc			[phone]
Allan Lockhart (Chief Executive) Will Hobman (Chief Financial Officer)

FGS Global			[phone]
Gordon Simpson James Thompson

About NewRiver

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing and developing resilient retail assets throughout the UK.

Our £0.6 billion UK wide portfolio covers 7 million sq ft and comprises 26 community shopping centres and 12 conveniently located retail parks occupied by tenants predominately focused on essential goods and services. Our objective is to own and manage the most resilient retail portfolio in the UK, focused on retail parks, core shopping centres, and regeneration opportunities in order to deliver long-term attractive recurring income returns and capital growth for our shareholders.

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR). Visit www.nrr.co.uk for further information.

LEI Number: 2138004GX1VAUMH66L31

 

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