Warehouse REIT plc secured £65 million in refinancing, comprising a £30 million five-year term loan facility and a new £35 million five year revolving credit facility, from HSBC.
The facilities replaced £44.3 million of debt facilities secured against the company's initial seed portfolio from the lender. The term loan will carry a reduced interest rate of 2.25% above the London Interbank Offered Rate, while the revolver's interest rate will be 2.4% above LIBOR.
In the same release, the trust also disclosed several acquisitions it made in the U.K.
In Stone, Staffordshire, the company paid £3.7 million to a private investor for the purchase of four industrial units on the Walton Industrial Estate, and £800,000 to another private vendor for the purchase of two multi-let trade counters spanning 13,800 square feet.
The company also closed the acquisition of a six-acre site in Banbury, Oxfordshire, occupied by Banbury FC, for £800,000, as well as acquisitions amounting to roughly £26.3 million agreed in September.
