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Custodian REIT extends revolving credit facility with Lloyds Bank

Under the terms of the agreement, the company pays interest of 2.45% above the three-month London interbank offer rate (LIBOR) per annum on the outstanding amounts used under the agreement from time to time

Pile of cash
The revolving credit facility is secured by way of a first charge over a discrete portfolio of properties

Custodian REIT PLC (LON:CREI), the UK property investment company, has extended its revolving credit facility with Lloyds Bank.

On 14 January 2019, the company and Lloyds agreed to increase the total funds available under the facility from £35 million to £45 million until 30 June 2019, to provide the company with an additional capacity for property acquisitions.

READ: Custodian REIT acquires Volkswagen car dealership in Loughborough

"Securing additional short-term debt capacity will provide flexibility to exploit any acquisition opportunities arising over the next six months," said Richard Shepherd-Cross, the managing director of Custodian Capital, the trust’s discretionary investment manager.

Quick facts: Custodian REIT

Price: 84.74 GBX

Market: LSE
Market Cap: £355.95 m

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