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Supermarket Income REIT increases credit facility to GBP104.5 million

3rd Apr 2024 09:28

(Alliance News) - Supermarket Income REIT PLC on Wednesday said it had extended its debt refinancing arrangements with Sumitomo Mitsui Banking Group, providing the company with GBP37.5 million in additional funds.

Supermarket Income is a London-based real estate investment trust, with a GBP1.73 billion portfolio of assets occupied by the likes of chains including Tesco PLC, J Sainsbury PLC and Waitrose.

The company has increased its unsecured credit facility with Sumitomo to GBP104.5 million from GBP67 million.

The interest-only facility matures in September 2026, and is priced at a margin of 1.55% above the SONIA rate benchmark, while the existing GBP67 million will remain at a margin of 1.40% above SONIA.

Ben Green, investment advisor to Supermarket Income, said: "We are pleased to continue our relationship with SMBC, a key funding partner to the company. Our strong relationships with existing lenders, and quality of the portfolio, continues to allow the company to access debt financing at attractive margins."

Shares in Supermarket Income were down 1.2% at 75.70 pence each in London on Wednesday morning.

By Hugh Cameron, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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