Home REIT will be selling additional properties within its portfolio to pay back the loan balance it has with Scottish Widows.
In a stock exchange notice today (17 June), the trust said that, following a review by investment manager AEW UK and JLL Debt Advisory, Home's board was not able to secure refinancing of the existing facility with Scottish Widow on terms that it could recommend to shareholders. This means the trust has not been able to secure a new lender for its debt facility. Home REIT hires accountant as non-executive director in board reshuffle In its engagement with the board and AEW, Scottish Widows outlined its objective was to have the loan balance repaid in the short term, the trust noted....
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