Civitas Social Housing REIT has settled a new five year term debt facility of £70.9m with a European bank.
This deal has been deployed to in full to redeem the company's existing facility with Lloyds Bank of £60m, as well as providing it with additional liquidity for further gearing. The switch allows Civitas to fund projects via gearing without having to raise new capital via shares. FTSE 100 breaks historic 8,000 points barrier According to the Association of Investment Companies, Civitas currently has gearing of 44%. Civitas is an investment trust dedicated to investments in existing portfolios of built social homes in England and Wales and was established in 2016. Chair of Civ...
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