3rd Mar 2020 17:46
(Alliance News) - Yew Grove REIT PLC on Tuesday said it has increased its three-year floating rate loan facility with Allied Irish Banks PLC by EUR10.1 million.
The Irish commercial property investor said the increase brings the total amount under the facility to EUR49.1 million.
In January, Yew Grove said it increased the loan facility 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 closed 0.5% lower at 0.95 pence each on Tuesday in London.
By Ife Taiwo; [email protected]
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