27th Aug 2021 17:42
Triple Point Social Housing REIT PLC - real estate investment trust - Has put in place GBP195 million of long dated, fixed rate, interest only sustainability-linked loan notes through a private placement with MetLife Investment Management clients and Barings. Notes have weighted average term of 13 years and a weighted average fixed rate coupon of 2.634%, and will allow firm to refinance existing floating rate revolving credit facility.
Adds that Fitch Ratings has assigned company an investment grade long-term issuer default rating of A- with a stable outlook, and a senior secured rating of A for its new loan notes.
"We are very pleased to have secured a premium investment grade rating from Fitch. This positive endorsement will enable the company to pursue a broader strategy in relation to debt funding and the group's new long term, attractively priced, fixed rate loan notes are reflective of this," says Chair Chris Phillips.
Current stock price: 107.00 pence
Year-to-date change: down 4.0%
By Lucy Heming;Â [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Social Housing