By David Parsley2018-07-04T07:35:00
Source: Shutterstock/Claudio Divizia
Schroder Real Estate Investment Trust has completed a refinancing of its £129.6m term loan with Canada Life and its £20.5m revolving credit facility (RCF) with Royal Bank of Scotland (RBS).
The refinancing is in respect of the £25.9m portion of the Canada Life loan that was due to expire in April 2023, which has been extended by five years to end with the rest of the loan in April 2028. The fixed interest rate cost has reduced from a 4.77% to 3.09% on this portion of the loan, saving approximately £435,000 of interest a year.
You must be logged in to continue
Try Property Week For Free to finish this article.
Sign up now for the following benefits:
To access this article TRY FOR FREE NOW
Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.
Registered users and subscribers SIGN IN here to continue
Site powered by Webvision Cloud