BMO Real Estate Investments Ltd Refinancing Update

 
TIDMBREI 
 
To:                   Company Announcements 
 
Date:                30 March 2020 
 
Company:        BMO Real Estate Investments Limited 
 
LEI:                  231801XRCB89W6XTR23 
 
Subject:           Refinancing Update 
 
REFINANCING UPDATE 
 
Further to the announcement of the Interim Results on 26 March 2020 by BMO Real 
Estate Investments Limited (the "Company") the Board can now confirm that IPT 
Property Holdings Limited, a subsidiary of the Company, has executed a new GBP20 
million 5-year revolving credit facility agreement with Barclays Bank plc which 
is available until 27 March 2025. 
 
This is an extension of a previous GBP20 million 5-year revolving credit facility 
that was in place with Barclays and was due to expire in November 2020. The 
interest rate that will be payable in respect of the facility is 1.7 per cent 
per annum over 3-month LIBOR (previously subject to a ratchet mechanism and 
between 1.45 - 1.70 per cent over 3-month LIBOR) and a commitment fee of 0.68 
per cent per annum (previously 0.58 per cent) on the undrawn amount. 
 
The facility is expected to remain undrawn in the near term but will provide 
the Company with valuable liquidity in the current market environment. 
 
Enquiries: 
 
The Company Secretary 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Trafalgar Court 
Les Banques 
St Peter Port 
Guernsey 
GY1 3QL 
 
Tel: [phone] 
Fax: [phone] 
 
Peter Lowe 
Scott Macrae 
BMO Investment Business Ltd 
Tel: [phone] 
Fax: [phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

March 30, 2020 08:50 ET (12:50 GMT)