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India

Schroder Real Estate Investment Trust Refinances 129.6 Mln Stg Term Loan


Tuesday, 8 Oct 2019 

Oct 8 (Reuters) - Schroder Real Estate Investment Trust Ltd ::REFINANCED £129.6 MILLION TERM LOAN, EXTENDED MATURITY WITH 50% OF LOAN MATURING IN 13 YRS,50% MATURING IN 20 YRS.TRANSACTION REDUCES COST OF DEBT ON LOAN FROM 4.4% TO ABOUT 2.3%, INTEREST SAVINGS OF ABOUT £2.8 MILLION PER ANNUM.NEGOTIATED BREAK COST OF APPROXIMATELY £28 MILLION FUNDED BY CASH REALISED FROM DISPOSALS.DELIVERED A 5% DIVIDEND INCREASE IN FINANCIAL YEAR TO MARCH 2019. 

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