Standard Life Investments Property Income Trust has signed a seven-year debt facility with Royal Bank of Scotland.
The existing facility with RBS, which totals £84.4m, is due to expire in December 2013.
The new facility will be drawn down in January with hedging arrangements agreed to mitigate interest rate risk over the life of the loan.
Standard Life Investments Property says the new facility is on attractive terms for the company, and the exact rates will be confirmed in January when the full £84.4m is drawn down.
bridget.oconnell@estatesgazette.com
