Midlands-focused REIT Real Estate Investors has renewed its £51m RBS term loan facilities with National Westminster Bank for a further three years at around 2.2% above Libor.
A £41m facility was set to expire in February this year, while another £10m facility was due to expire in August 2023.
The new facility, which expires in March 2024, is secured on a portfolio of the group’s properties.
The average cost of debt across the group stands at 3.4%.
Paul Bassi, chief executive, said: “This refinancing and our overall maintained cost of debt, demonstrates our excellent banking relationships and access to financing on competitive terms, supporting the group’s strategic objectives.”
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