Refinancing of Long Term Debt Completed

For release 16 October 2019
 

Schroder Real Estate Investment Trust Limited
("SREIT"/ the "Company" / "Group")

REFINANCING OF LONG TERM DEBT COMPLETED

Following the announcement on 8 October 2019, Schroder Real Estate Investment Trust, the actively managed UK-focused REIT, announces that it has set the final interest rate and break cost under its new loan with Canada Life Investment. The final key loan terms are:

• £129.6 million fixed rate loan extended from 8.5 to average 16.5 years
• Reduction in the total interest rate from 4.4% to 2.5% per annum, generating an immediate interest saving of £2.5 million per annum
• Negotiated break cost of £25.8 million funded by cash realised from disposals
• Interest saving to be paid to shareholders as an increased dividend of £16.0 million per annum, equating to an increase of 19%, starting at the period 1 October 2019

-ENDS-

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