£50m Loan Facility Repayment

RNS Number : 7712B

Regional REIT Limited

25 September 2018

 

25 September 2018

REGIONAL REIT LIMITED

("Regional REIT", the "Group" or the "Company")

£50m LOAN FACILITY REPAYMENT

Regional REIT, the UK regional office and industrial property focused real estate investment trust, today announces it has repaid £50m of the £65m 5% ICG Longbow Ltd. loan facility (the "facility"), which is due to mature August 2019. The remainder of the facility is expected to be settled by the end of November 2018 from disposal proceeds or refinancing.

The early repayment of the facility was funded by recent property disposals and in part by the proceeds of the 4.5% 2024 Retail Eligible Bond.

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Enquiries:

Regional REIT Limited
Press enquiries through Headland
Toscafund Asset Management	Tel: [phone]
Investment Manager to the Group
Adam Dickinson, Investor Relations, Regional REIT Limited
London & Scottish Investments	Tel: [phone]
Asset Manager to the Group
Stephen Inglis
Headland PR Consultancy LLP	Tel: [phone]
Financial PR
Francesca Tuckett / Jack Gault

About Regional REIT

Regional REIT Limited (LSE: RGL) is a London Stock Exchange Main Market traded specialist real estate investment trust focused on office and industrial property interests in the principal regional locations of the United Kingdom outside of the M25 motorway.

Regional REIT is managed by London & Scottish Investments, the Asset Manager, and Toscafund Asset Management, the Investment Manager, and was formed by the combination of two existing funds previously created by the Managers as a differentiated play on the expected recovery in UK regional property, to deliver an attractive total return to Shareholders and with a strong focus on income.

The Group's investment portfolio, as at 30 June 2018, was spread across 151 regional properties, 1,294 units and 950 tenants. As at 30 June 2018, the investment portfolio had a value of £758.7m and a net initial yield of 6.4%. The weighted average unexpired lease term to first break was 3.5 years.

The Company's shares were admitted to the Official List of the UK's Financial Conduct Authority and to trading on the London Stock Exchange on 6 November 2015. For more information, please visit the Group's website at www.regionalreit.com

Cautionary Statement

This document has been prepared solely to provide additional information to Shareholders to assess the Group's performance in relation to its operations and growth potential. The document should not be relied upon by any other party or for any other reason. Any forward looking statements made in this document are done so by the Directors in good faith based on the information available to them up to the time of their approval of this document. However, such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.

ESMA Legal Entity Identifier ("LEI"): (549300D8G4NKLRIKBX73)

 

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