TIDMRGL

RNS Number : 8235C

Regional REIT Limited

20 June 2019

20 June 2019

REGIONAL REIT Limited

("Regional REIT", the "Group" or the "Company")

Successful Refinancings of GBP121m

Regional REIT (LSE: RGL), the regional real estate investment specialist focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, today announces two refinancings amounting to GBP121m.

A new GBP66m 10-year facility has been agreed with Santander which refinances the existing GBP44m facility that was due to mature in November 2022.

In addition, a new GBP55m 5-year facility has been agreed with the Royal Bank of Scotland which refinances the existing GBP27m facility with Royal Bank of Scotland and the GBP19m facility with HSBC, both of which were due to mature in December 2021.

As a result of the above activity, the Group's cost of borrowing, including hedging, will be 3.5%, with an unexpired debt term extended from 6.7 years to 7.9 years. The facilities provide the Group with headroom of c.GBP31m to pursue attractive acquisitions that will provide additional value for the Company's shareholders.

Stephen Inglis, CEO of London & Scottish Property Investment Management, the Asset Manager, commented:

"These two considerable refinancings with major participating institutions continue to demonstrate our steady and disciplined approach to risk management. We have secured well priced debt for the longer term whilst minimising the effect of any interest rate increases.

"Regional REIT continues to be well supported by its key lenders as it evolves through its next phase of growth capitalising on a growing pipeline of attractive near-term acquisition opportunities. We are delighted to continue to work with both the Royal Bank of Scotland and Santander, and look forward to continuing to strengthen our close working relationships over the coming years."

- ENDS -

Enquiries:

 
Regional REIT Limited 
 
 
Toscafund Asset Management                        Tel: +44 (0) 20 7845 
                                                   6100 
Investment Manager to the Group 
Adam Dickinson, Investor Relations, Regional 
 REIT Limited 
 
London & Scottish Property Investment Management  Tel: +44 (0) 141 
                                                   248 4155 
Asset Manager to the Group 
Stephen Inglis 
 
Buchanan Communications                           Tel: +44 (0) 20 7466 
                                                   5000 
Financial PR                                      regional@buchanan.uk.com 
Charles Ryland / Victoria Hayns / Henry 
 Wilson

About Regional REIT

Regional REIT Limited ("Regional REIT" or the "Company") and its subsidiaries (the "Group") is a United Kingdom ("UK") based real estate investment trust that launched in November 2015. It is managed by London & Scottish Property Investment Management Limited, the Asset Manager, and Toscafund Asset Management LLP, the Investment Manager.

Regional REIT's commercial property portfolio is comprised wholly of income producing UK assets and comprises, predominantly, offices and industrial units located in the regional centres outside of the M25 motorway. The portfolio is highly diversified, with 150 properties, 1,192 units and 874 tenants as at 31 December 2018, with a valuation of GBP718.4m.

Regional REIT pursues its investment objective by investing in, actively managing and disposing of regional core and core plus property assets. It aims to deliver an attractive total return to its Shareholders, targeting greater than 10% per annum, with a strong focus on income supported by additional capital growth prospects.

The Company's shares were admitted to the Official List of the UK's Financial Conduct Authority and to trading on the London Stock Exchange on 6 November 2015. For more information, please visit the Group's website at www.regionalreit.com.

Cautionary Statement

This document has been prepared solely to provide additional information to Shareholders to assess the Group's performance in relation to its operations and growth potential. The document should not be relied upon by any other party or for any other reason. Any forward looking statements made in this document are done so by the Directors in good faith based on the information available to them up to the time of their approval of this document. However, such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.

ESMA Legal Entity Identifier ("LEI"): (549300D8G4NKLRIKBX73)

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.

END

MSCEANKNFFANEFF

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June 20, 2019 02:00 ET (06:00 GMT)

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