Supermarket Income REIT has completed a debt refinancing exercise, which included the reduction and extension of an existing debt facility and the completion of a new unsecured debt facility.
In a regulatory filing today (15 September), the trust said it has reduced its loan-to-value ratio to 34% from 40% in December 2022, and the weighted average term of debt was now in excess of four years. Private equity trust discounts ease most among alternatives in H1 More than 60% of the REIT's debt facilities are now unsecured - up from 48% at the end of last year - and it has available undrawn committed facilities in excess of £100m. The refinancing exercise included the cancellation of two shorter-dated debt facilities: a £77.5m secured revolving credit facility with Barclays ...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes