REG-AEW UK REIT plc AEW UK REIT plc: Debt Facility Amendment

Aew UK ReitAnnouncement

09/10/2019 07:05

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   AEW UK REIT plc (AEWU)
   AEW UK REIT plc: Debt Facility Amendment

   09-Oct-2019 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   9 October 2019

   AEW UK REIT Plc

                            Debt Facility Amendment

   The Board of AEW UK REIT plc  ("the Company") today announces that it  has
   completed an amendment to its existing loan documentation which  increases
   the facility's loan to net asset  value covenant from 45% to 55%  (subject
   to certain conditions).  

   The Board notes, however, that the maximum gearing limit and anticipated
   level of total borrowing for the Company remain as set out in its
   Prospectus. As at 30 June 2019 the Company reported a loan to net asset
   value of 33.7% (loan to gross asset value of 25.4%). There will be no
   changes to the Company's overall borrowing levels, or to the margin
   currently charged under the facility, as a result of this amendment.

   The loan, which is from The Royal Bank of Scotland International  Limited,
   has been  in place  since  October 2015.   In  October 2018,  the  Company
   extended the term of the loan from expiry in 2020 to October 2023.

   Alex  Short,  Portfolio  Manager,  AEW  UK  REIT,  commented:  "The  above
   amendment provides the Company with a cost effective way of reducing  risk
   in its debt  position. We will  continue to keep  gearing at  conservative
   levels in accordance with the Company's stated policy."

    

                                      ENDS

                                        

   About AEW UK REIT

   AEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total return  to
   shareholders by investing predominantly  in smaller commercial  properties
   (typically less  than  £15 million),  on  shorter occupational  leases  in
   strong commercial locations  across the  United Kingdom.  The Company  was
   listed on the Official  List of the UK  Listing Authority and admitted  to
   trading on the Main Market  of the London Stock  Exchange on 12 May  2015,
   raising £100.5m. Since IPO it has raised a further £51m.

    

   The Company  is  currently  invested in  office,  retail,  industrial  and
   leisure assets, with a focus on active asset management, repositioning the
   properties and improving the quality of the income stream. 

    

   AEWU is  currently  paying  an  annualised  dividend  of  8p  per  share. 
    1 www.aewukreit.com 

    

   About AEW UK Investment Management LLP

   AEW UK Investment Management LLP employs a well-resourced team  comprising
   26 individuals  covering  investment,  asset  management,  operations  and
   strategy. It is part of AEW Group, one of the world's largest real  estate
   managers, with EUR68.2bn of  assets under management as  at 30 June  2019.
   AEW Group  comprises  AEW SA  and  AEW  Capital Management  L.P.,  a  U.S.
   registered  investment  manager  and  their  respective  subsidiaries.  In
   Europe, as at  30 June 2019,  AEW Group managed  EUR31.9bn of real  estate
   assets on behalf of a number of funds and separate accounts with over  400
   staff located  in 9  offices.  The Investment  Manager  is a  50:50  joint
   venture between the principals of the  Investment Manager and AEW. In  May
   2019, AEW UK Investment Management LLP was awarded Property Manager of the
   Year at the Pensions and Investment Provider Awards.  2 www.aewuk.co.uk

    

    

   AEW UK Enquiries

   Alex Short       3 alex.short@eu.aew.com

   Laura Elkin       4 laura.elkin@eu.aew.com

    

   Media Enquiries

   Nicki Gladstone       5 nicki.gladstone-ext@eu.aew.com

          +44 (0)7711 401021

   TB Cardew (Financial PR advisor)     6 aew@tbcardew.com

   Ed Orlebar      +44 (0) 7738 724630  

   Tania Wild      +44 (0) 7425 536903

    

    

    

   Disclaimer

   This communication cannot be relied upon as  the basis on which to make  a
   decision to invest in the Company. This communication does not  constitute
   an invitation or inducement to subscribe to any particular investment.

    

    

    

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   ISIN:           GB00BWD24154
   Category Code:  MSCM
   TIDM:           AEWU
   LEI Code:       21380073LDXHV2LP5K50
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   22791
   EQS News ID:    887155


    
   End of Announcement EQS News Service

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References

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   3. mailto:alex.short@eu.aew.com
   4. mailto:laura.elkin@eu.aew.com
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   6. mailto:aew@tbcardew.com


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