Supermarket Income REIT has completed a £90m refinancing deal with Barclays.
The new unsecured debt facility will be used to refinance the company’s existing secured debt facilities with Wells Fargo and Bayerische Landesbank of £30m and £55.4m respectively. These facilities are due to mature in the next 12 months and will now be cancelled in full.
The new interest-only facility has a maturity of three years with two one-year extension options at the lender’s discretion, and is priced at a margin of 1.55% above SONIA.
Robert Abraham, CEO of Supermarket Income REIT, said: “This new facility continues our relationship with Barclays, a key funding partner to the company. Our strong relationships with existing lenders and the quality of Supermarket Income REIT’s portfolio continue to allow the company to access debt financing at attractive margins.”
