BCPT Balanced Commercial Property Trust Limited

 
TIDMBCPT 
 
To                   Company Announcements 
Date                12 October 2020 
Company        BMO Commercial Property Trust Limited 
LEI                  213800A2B1H4ULF3K397 
 
Subject           Refinancing Update 
 
 
Further to the Trading Update on 4 August 2020 by BMO Commercial Property Trust 
Limited (the "Company") the Board can now confirm that SCP Estate Holdings 
Limited, a subsidiary of the Company, has executed a new GBP100 million term loan 
and revolving credit facility agreement with Barclays Bank plc. 
 
This is an extension until July 2022 with the option of two further one-year 
extensions of the previous GBP50 million term loan facility and GBP50 million 
undrawn revolving credit facility that was in place with Barclays and was due 
to expire in June 2021. The interest rate that will be payable in respect of 
the facility is 1.85 per cent per annum over 3-month LIBOR (previously 1.50 per 
cent over 3-month LIBOR) and a commitment fee of 0.74 per cent per annum 
(previously 0.60 per cent per annum) on the undrawn amount. As at 30 June 2020, 
the Company's loan to value ("LTV") was 22.9 per cent. 
 
The revolving credit facility is expected to remain undrawn in the near term 
but upon satisfaction of the relevant conditions to drawdown, it will provide 
the Company with valuable additional liquidity. 
 
Enquiries: 
 
The Company Secretary 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Trafalgar Court 
Les Banques 
St Peter Port 
Guernsey 
GY1 3QL 
 
Tel: 01481 745001 
Fax: 01481 745051 
 
Richard Kirby 
Scott Macrae 
BMO Investment Business Ltd 
 
Tel: 0207 628 8000 
Fax: 0131 225 2375 
 
 
 
END 
 

(END) Dow Jones Newswires

October 12, 2020 02:00 ET (06:00 GMT)

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