TIDMNRR

RNS Number : 6097T

NewRiver REIT PLC

16 November 2023

NewRiver REIT plc

("NewRiver" or the "Company" or the "Group")

Refinancing of Revolving Credit Facility

NewRiver is pleased to announce that it has refinanced its Revolving Credit Facility ("RCF" or "facility").

 
 --   New GBP100 million facility, with a GBP50 million accordion available 
       subject to lender approval (previous facility GBP125 million with 
       a GBP50 million accordion) 
 --   Maturity has been extended from August 2024 to November 2026 with 
       option to extend the facility by two additional one-year terms (to 
       November 2028), subject to lender approval 
 --   Annual cost has reduced as headline margin and quantum both reduced 
 --   All four banks in the previous facility have continued to support 
       NewRiver in the new facility, being Barclays Bank PLC, HSBC UK Bank 
       plc, National Westminster Bank plc and Santander UK plc

The Company was advised by Rothschild & Co.

Will Hobman, Chief Financial Officer commented: "We are pleased that the strength of our financial position, best-in-class asset management platform and well positioned portfolio have been recognised by our key bank lenders, who have each chosen to continue to support the long-standing relationships we have established with them. By extending the RCF term for at least a further three years we will continue to benefit from access to additional liquidity and at the same time by reducing the size and margin of the RCF we have been able to do so at a reduced overall cost."

Ends

 
                                                     +44 (0)20 3328 
     NewRiver REIT plc                                5800 
     Allan Lockhart (Chief Executive) 
      Will Hobman (Chief Financial Officer) 
 
 
                              +44 (0)20 7251 
     FGS Global                3801 
     Gordon Simpson 
      James Thompson

About NewRiver

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing and developing resilient retail assets throughout the UK.

Our GBP0.6 billion UK wide portfolio covers 7 million sq ft and comprises 26 community shopping centres and 12 conveniently located retail parks occupied by tenants predominately focused on essential goods and services. Our objective is to own and manage the most resilient retail portfolio in the UK, focused on retail parks, core shopping centres, and regeneration opportunities in order to deliver long-term attractive recurring income returns and capital growth for our shareholders.

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR). Visit www.nrr.co.uk for further information.

LEI Number: 2138004GX1VAUMH66L31

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFZMMMNKGGFZM

(END) Dow Jones Newswires

November 16, 2023 02:00 ET (07:00 GMT)

Newriver Reit (LSE:NRR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Newriver Reit.
Newriver Reit (LSE:NRR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Newriver Reit.