StockMarketWire.com - Regional REIT has confirmed that it has agreed a new £165m secured 10-year facility with Scottish Widows and Aviva Investors Real Estate Finance, which has been arranged by Bank of Scotland.

The New Facility replaces five existing secured debt facilities and reduces the number of Group debt facilities from nine to five.

The Company said it also increases the average maturity of the group debt to 6.2 years from 2.5 years.

Stephen Inglis, Chief Executive Officer of London & Scottish Investments, the Asset Manager of Regional REIT, commented:

"This refinancing simplifies our balance sheet, lengthens the average maturity of our debt, and better aligns our financing arrangements to our real estate strategy. The two refinancings announced in the last two weeks and the proposed transaction announced on 4 December, demonstrate the momentum building at Regional REIT as we enter the next stage of growth."




At 1:57pm: [LON:RGL] Regional Reit Limited share price was +0.5p at 102p



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