Supermarket Income REIT PLC - London-based real estate investment trust for property leased to grocery retailers - Secures a new £215 million, or around R 5.23 billion, term loan for its joint venture with funds managed by Blue Owl Capital. Says the interest-only facility has a maturity of three years, with two further one-year extension options at the lenders’ discretion. The loan is priced at a margin of 1.5% above Sonia.
Supermarket Income says it will receive 50% of the proceeds from the facility, which will initially be used to repay drawings under its existing debt facilities, prior to redeployment. The bank syndicate comprises Barclays PLC, HSBC Holdings PLC, ING Group NV and Sumitomo Mitsui Banking Corp. Supermarket Income formed a strategic joint venture with funds managed by Blue Owl Capital in April.
Stock price in London: 84.91 pence
12-month change: up 19%
Stock price in Johannesburg: R 20.55
12-month change: up 19% since December listing on JSE
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