Triple Point Social Housing bumps up credit line

Triple Point Social Housing REIT has boosted the size of its debt facility with two clearing banks by £30m to help finance its acquisition drive. The company’s revolving credit facility with Lloyds Bank and NatWest will increase to £160m from £130m. The tenure of the funding line, priced at 1.85% over three-month LIBOR, has been extended by a year to December 2023, and could yet be extended by a further 12 months. When the loan is fully drawn it will represent a loan-to-value ratio of 40%. Chris Phillips, chairman of Triple Point Social Housing REIT, said: “The revolving credit facility offers the group a high degree of flexibility and will enable us to provide more homes to some of the most vulnerable members of our society.”   To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette