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BRIEF-Irish Residential Properties ‍increases its revolving credit facility
September 15, 2017 / 4:24 PM / 11 days ago

BRIEF-Irish Residential Properties ‍increases its revolving credit facility

Sept 15 (Reuters) - IRISH RESIDENTIAL PROPERTIES REIT PLC :

* ‍INCREASED ITS REVOLVING AND ACCORDION CREDIT FACILITY FROM UP TO EUR 250 MILLION TO UP TO EUR 350 MILLION​

* ‍BARCLAYS BANK IRELAND LENDING EUR 162.5 MILLION, ULSTER BANK IRELAND EUR 117.5 MILLION, GOVERNOR AND COMPANY OF BANK OF IRELAND EUR 70 MILLION​

* ‍INCREASED CREDIT FACILITY CONTINUES TO HAVE A FIVE YEAR TERM FROM 14 JANUARY 2016 AND MARGINS REMAIN SAME​

* ‍FACILITY WILL BE USED TO FUND ACQUISITIONS, DEVELOPMENTS AND FOR WORKING CAPITAL PURPOSES, SECURED BY A FLOATING CHARGE OVER ASSETS

* ‍BARCLAYS ACTED AS FACILITY CO-ORDINATOR WHILST BARCLAYS AND ULSTER BANK WERE JOINT ARRANGERS​ Further company coverage:

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