TIDMPCTN 
 
22 June 2017 
 
                        PICTON PROPERTY INCOME LIMITED 
 
                   ("Picton", the "Company" or the "Group") 
 
        PICTON COMPLETES EXTENSION OF REVOLVING CREDIT FACILITY ("RCF") 
 
Picton, the property investment company, announces that it has extended one of 
its revolving credit facilities ("RCF") with Santander Corporate and Commercial 
Banking. 
 
Background 
 
Picton has two revolving credit facilities, one of which expires in 2018 and 
the other in 2021.  It is the facility with the earlier maturity date that has 
been extended and will now expire at the same time as the second RCF, in June 
2021. 
 
Extension 
 
The extended RCF is initially for GBP24 million and the annual non-utilisation 
cost will remain at GBP0.18 million. Once drawn, the RCF will incur interest 
payments of 190 basis points over 3 months LIBOR, which is currently close to 
2.2% per annum. 
 
The terms of the facility allow for it to be repaid and redrawn over the life 
of the loan as required. By providing the Company with immediate access to 
committed but undrawn facilities, Picton is able to act quickly and 
opportunistically to purchase assets. 
 
In total Picton now has GBP51 million available and undrawn under these two 
facilities, and net gearing of 27.4% as at 31 March 2017. 
 
Nick Thompson, Chairman of Picton Property Income, commented: "We are pleased 
to extend this facility ahead of maturity next year. This balance sheet 
structure allows Picton to maintain its long-term approach and secure 
attractive opportunities when identified." 
 
Andrew Dewhirst, Finance Director of Picton Capital Ltd, commented: "In 
addition to our long-term financing, having the ability to use our RCFs on a 
tactical basis will provide the operational flexibility for Picton to implement 
its portfolio strategy." 
 
For further information: 
 
Tavistock 
Jeremy Carey/James Verstringhe, 020 7920 3150, 
james.verstringhe@tavistock.co.uk 
 
Picton Capital Limited 
Michael Morris, 020 7011 9980, michael.morris@picton.co.uk 
 
About Picton 
 
Picton is a property investment company established in 2005.   It owns and 
actively manages a GBP624.4 million diversified UK commercial portfolio, invested 
across 53 assets and with around 350 occupiers (as at 31 March 2017). Through 
an occupier-focused, opportunity-led approach to real estate asset management, 
Picton aims to be one of the consistently best performing diversified UK 
property companies listed on the main market of the London Stock Exchange. 
 
For more information please visit: www.picton.co.uk 
 
                                     ENDS 
 
 
 
END

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