Real Estate Investors renews banking facilities
Real Estate Investors, the Birmingham-based AIM listed property investment business, has completed the refinancing of its existing debt facilities.
The company’s £51m RBS term loan facilities, due to expire in February 2021 (£41m) and August 2023 (£10m), have been renewed with National Westminster Bank, following its merger with RBS, for a further three years with expiry due in March 2024.
The average cost of debt across the company remains at 3.4%.
REI chief executive Paul Bassi said: “This refinancing and our overall maintained cost of debt, demonstrates our excellent banking relationships and access to financing on competitive terms, supporting the company’s strategic objectives.”
REI also said its results for the year ended 31 December 2020 will be announced on Tuesday 30 March.