- Regional REIT has agreed a new £52.4 million secured facility with Santander UK.

The new facility has a 5-year term maturing in November 2022 and replaces the current three-year debt facility with Santander UK of £47.8 million, which was due to mature in December 2018.

When coupled with the credit approved 10-year secured facility which is in late stage discussions, the weighted average debt maturity will increase to 6.3 years from 2.0 years.

The group cost of borrowing, including hedging fees, and LTV, will remain at c. 3.7% and c. 48% respectively.

At 9:09am: [LON:RGL] Regional Reit Limited share price was -1.12p at 103.63p

Story provided by