2nd Oct 2015 12:47
LONDON (Alliance News) - Real estate investor Secure Income REIT PLC on Friday said it has closed the final portion of its debt financing, meaning its secured debt is now at GBP902.6 million.
In its interim results in September, Secure Income REIT said it had drawn two of the three debt facilities it had at its disposal and said a third had been signed. The third facility has now been drawn down.
"As highlighted at our interim results, this marks the final stage of the refinancing with long term, cheaper debt. In conjunction with the asset sales completed earlier this year, this means that the Company can now begin to pay out a dividend, expected to commence next autumn, ahead of the timescales anticipated at the time of the IPO last year," said Chairman Martin Moore.
Shares in Secure Income REIT were up 1.0% to 255.05 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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