RDI has completed the early refinancing of its largest UK debt facility, extending the £275m debt package for five years with a club of three banks comprising Barclays, HSBC and RBS.
The total facility includes a £137.5m term loan and a £137.5m revolving credit facility. It is currently drawn to £250m reflecting an anticipated LTV of approximately 47%, with £25m of additional headroom.
The UK REIT’s deputy chief executive, Stephen Oakenfull, said: “We are pleased to have secured attractive terms on the extension of our principal UK debt facility with built in flexibility to manage capital efficiently through the revolving credit facility. In the current uncertain economic environment, we are pleased to have secured the early extension of this facility.”
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