31st Jan 2020 12:11
(Alliance News) - Yew Grove REIT PLC on Friday said it has increased the size of its loan facility and extended the term until December 2021.
The Irish commercial property investor said that it has agreed an increase to its three-year floating rate loan facility with Allied Irish Banks PLC by EUR9.9 million to a total of EUR39.0 million.
The facility is in place until December 2021, with interest charged on a margin over a three-month Euribor, and is secured on some of Yew Grove's properties.
The funds will be used to partly finance the company's acquisition of future properties and enhance investment returns.
Shares in Dublin-headquartered Yew Grove were untraded at 0.96 pence each on Friday in London.
By Ife Taiwo; [email protected]
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