Custodian REIT plc : Extension of Revolving Credit Facility (768081)

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 Custodian REIT plc (CREI) 
Custodian REIT plc : Extension of Revolving Credit Facility 
 
22-Jan-2019 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
            22 January 2019 
 
      Custodian REIT plc 
 
      ("Custodian REIT" or "the Company") 
 
      Extension of Revolving Credit Facility 
 
  Custodian REIT (LSE: CREI), the UK property investment company, is pleased 
         to announce the extension of its revolving credit facility ("RCF"). 
 
    On 25 February 2014, the Company agreed a RCF of GBP25 million with Lloyds 
  Bank plc ("Lloyds") for a term of five years, and on 13 November 2015, the 
  total funds available under the RCF were increased from GBP25 million to GBP35 
  million with the termination date extended to 13 November 2020. The RCF is 
   secured by way of a first charge over a discrete portfolio of properties, 
   providing the lender with a maximum loan to value ("LTV") ratio of 50% on 
     those properties specifically charged to it and a floating charge, with 
      interest cover of at least 250% LTV. Under the terms of agreement, the 
     Company pays interest of 2.45% above three-month LIBOR per annum on the 
         outstanding amounts utilised under the agreement from time to time. 
 
On 14 January 2019 the Company and Lloyds agreed to increase the total funds 
 available under the RCF from GBP35 million to GBP45 million until 30 June 2019, 
  to provide the Company with additional capacity for property acquisitions. 
 
    Commenting on the extension of the RCF, Richard Shepherd-Cross, Managing 
          Director of Custodian Capital Limited (the Company's discretionary 
            investment manager), said: 
 
   "Securing additional short-term debt capacity will provide flexibility to 
    exploit any acquisition opportunities arising over the next six months." 
 
      -Ends- 
 
For further information, please contact: 
 
          Custodian Capital Limited 
Richard Shepherd-Cross / Nathan         Tel: [phone] 
Imlach / Ian Mattioli MBE 
                                    www.custodiancapital.com [1] 
 
Numis Securities Limited 
Nathan Brown / Hugh Jonathan Tel: [phone] 
                                    www.numiscorp.com 
 
Camarco 
Ed Gascoigne-Pees Tel: [phone] 
                         www.camarco.co.uk 
 
            Notes to Editors 
 
Custodian REIT plc is a UK real estate investment trust, which listed on the 
    main market of the London Stock Exchange on 26 March 2014. Its portfolio 
    comprises properties predominantly let to institutional grade tenants on 
       long leases throughout the UK and is characterised by properties with 
             individual values of less than GBP10 million at acquisition. 
 
        The Company offers investors the opportunity to access a diversified 
      portfolio of UK commercial real estate through a closed-ended fund. By 
targeting sub GBP10 million lot size, regional properties, the Company intends 
  to provide investors with an attractive level of income with the potential 
            for capital growth. 
 
    Custodian Capital Limited is the discretionary investment manager of the 
            Company. 
 
            For more information visit www.custodianreit.com [2] and 
            www.custodiancapital.com [1]. 
 
ISIN:           GB00BJFLFT45 
Category Code:  MSCM 
TIDM:           CREI 
LEI Code:       2138001BOD1J5XK1CX76 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   7216 
EQS News ID:    768081 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=768081&site_id=vwd_london&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=768081&site_id=vwd_london&application_name=news 
 

(END) Dow Jones Newswires

January 22, 2019 02:01 ET (07:01 GMT)