Supermarket Income REIT PLC

Capital/Financing Update • Aug 30, 2017

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 2700P

Supermarket Income REIT PLC

30 August 2017

Supermarket Income REIT plc

("Supermarket Income REIT" or the "Company")

30 August 2017

REVOLVING CREDIT FACILITY

Supermarket Income REIT (LSE: SUPR), the UK supermarket real estate investor, announces that it has secured a Revolving Credit Facility (the "RCF") of £100 million from HSBC.

The RCF is a facility with an initial three-year term and two further one year extension options. Once drawn, the RCF has an opening margin of 160 basis points over 3 month LIBOR which is currently equivalent to a total cost of 2.2% per annum.

The RCF will provide the Company with flexible capital to fund the growth of the property portfolio while also allowing the Company to manage its capital structure in line with its investment policy. The Company will follow a prudent approach to gearing with medium term borrowings as a percentage of gross assets expected to be approximately 30 to 40 per cent.

Ben Green, Director of Atrato Capital, the Investment Adviser to Supermarket Income REIT, said: "We have secured a flexible RCF ensuring we can maintain an efficient balance sheet and enabling us to act quickly on attractive investment opportunities. We were very pleased with the level of bank interest we received on this transaction which reaffirms the strong fundamentals of this asset class."

For further information, please contact:

Atrato Capital Limited                                   +44 (0)20 3790 8087

Ben Green

Steve Windsor

Steve Noble

Stifel Nicolaus Europe Limited                 +44 (0)20 7710 7600

Mark Young

Neil Winward

Tom Yeadon      

Tavistock                                                             +44 (0)20 7920 3150

Jeremy Carey

James Whitmore

James Verstringhe         

NOTES TO EDITORS:

Supermarket Income REIT plc listed on the specialist fund segment of the main market of the London Stock Exchange in July 2017. Its objective is to acquire a diversified portfolio of supermarket real estate assets in the UK, providing long-term RPI-linked income, from institutional grade tenants of significant size and the potential for capital growth through active asset management opportunities. Atrato Capital is the Company's Investment Adviser.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDBLBXDVFZBBF