12th Aug 2014 08:49
LONDON (Alliance News) - Hibernia REIT PLC Tuesday said it has entered a EUR100.0 million three-year revolving credit facility with Bank of Ireland Corporate Banking, secured against a corporate-level debenture, as it looks to invest in and grow its portfolio.
Hibernia now has debt facilities totalling EUR134.0 million related to its portfolio and cash and undrawn committed facilities of more than EUR140.0 million.
"We are very pleased to have entered our first corporate debt facility, which provides us with flexible funding at attractive rates with which to invest in and grow our portfolio. We remain committed to a conservative debt strategy, with our loan-to-value not exceeding 40% at incurrence, well within the limits of the Irish REIT Regime," Tom Edwards-Moss, Chief Financial Officer of WK Nowlan REIT Management Ltd, the investment manager, said in a statement.
Shares were Tuesday quoted up 0.4% at EUR1.06.
By Samuel Agini; [email protected]; @samuelagini
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