Ground Rents Income Fund Plc gets its existing £19.5 million loan refinanced

  • Jan 10, 2020 GMT
  • Team Kalkine

Ground Rents Income Fund Plc (LON: GRIO) has informed about a loan refinancing.

  • The company has reported that it has refinanced its existing £19.5 million loan with Santander UK plc.
  • As per the terms of the loan refinancing, a new five-year, £25 million facility with Santander UK plc was agreed.
  • The loan comprises a £12.5 million term loan and a £12.5 million RCF (Revolving Credit Facility).
  • Loan term has been extended from its current maturity of November 2021 to January 2025 and is at a margin of 1.85 per cent per annum above 3-month LIBOR, lower by 45 basis points compared to the current margin of 2.30 per cent.
  • On 10th January 2020, at the time of writing, GMT 08:10 AM, GRIO shares were trading at GBX 92.25, unchanged against the previous day closing price.

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