- Supermarket Income Reit
- 01 May 2025 11:47:21
Source: Sharecast
The FTSE 250 company said the facility replaced £85.4m of debt due to mature within the next 12 months, and would result in the cancellation of those facilities in full.
It said the new interest-only facility had an initial term of three years, with two one-year extension options at Barclays’ discretion.
It was priced at a margin of 1.55% over SONIA.
The company said it would use the value of its existing interest rate hedges to cap the facility's interest rate at 5% over the initial term, without incurring additional cost.
Following the refinancing and the completion of a recently-announced joint venture, Supermarket Income REIT said it expected to report a pro-forma loan-to-value ratio of about 31%.
“This new facility continues our relationship with Barclays, a key funding partner to the company,” said chief executive officer Robert Abraham.
“Our strong relationships with existing lenders and the quality of Supermarket Income REIT's portfolio continue to allow the company to access debt financing at attractive margins.”
At 1119 BST, shares in Supermarket Income REIT were up 0.39% at 77.9p.
Reporting by Josh White for Sharecast.com.