REG - LondonMetric - LONDONMETRIC REFINANCES £1.5BN OF DEBT FACILITIES

Londonmetric PropertyAnnouncement

19/03/2026 07:02

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RNS Number : 2210X  LondonMetric Property PLC  19 March 2026

19 March 2026

LONDONMETRIC PROPERTY PLC

LONDONMETRIC REFINANCES £1.5 BILLION OF DEBT FACILITIES

 

LondonMetric Property Plc ("LondonMetric") is pleased to announce the
refinancing of £1.5 billion of unsecured term loans and revolving credit
facilities ('RCFs').

The two new facilities (£1.3 billion syndicated and £200 million bilateral)
replace nearly all of the existing unsecured facilities that mature over the
next four years, and the refinancing materially enhances LondonMetric's debt
structure by:

·      Delivering an expected annualised cash saving of c.£6 million;

·      Diversifying its lender base with two new lenders added to the
eight existing;

·      Improving LondonMetric's weighted average debt maturity; and

·      Removing material refinancing risk until FY 2029.

The £1.5 billion of new facilities benefit from two plus one year extension
options and comprise:

·      £297.5 million term loan for a two-year term;

·      £297.5 million term loan for a three-year term;

·      £235.0 million RCF for a four-year term; and

·      £670.0 million RCF for a five-year term.

The average margin on the new facilities is 49bps lower at 105bps (drawn
basis) and average commitment fees are 19bps lower.

Following LondonMetric's December 2025 public bond issue and alongside other
recent debt activity, this refinancing increases LondonMetric's average debt
maturity to 4.4 years compared to 4.2 years as at 30 September 2025, despite
the passing of six months.

Following the refinancing, only £186 million of debt expires over the next
two years, which will be met from sales and/or c.£0.5 billion of undrawn debt
facilities.

Barclays Bank PLC and National Westminster Bank PLC acted as Joint
Co-ordinators and Bookrunners on the £1.3 billion syndicated facility.

Martin McGann, Chief Financial Officer of LondonMetric commented:

"This refinancing significantly enhances our capital structure, reduces our
cost of debt and further strengthens our diverse lender relationships. The
structure supports our wider funding strategy as we look ahead to further
potential debt capital markets issuance, continued disciplined growth and
managing our finance costs to ensure they don't increase materially over the
next few years."

 

LondonMetric Property Plc

Andrew Jones / Martin McGann / Gareth Price / Ritesh Patel

Tel: +44 (0) 20 7484 9000

 

FTI Consulting

Dido Laurimore / Andrew Davis

Tel: +44 (0) 20 3727 1000

londonmetric@fticonsulting.com (mailto:londonmetric@fticonsulting.com)
 

 

About LondonMetric Property Plc

LondonMetric is the UK's leading triple net lease REIT with a £7 billion
portfolio aligned to structurally supported sectors of logistics, healthcare,
convenience, entertainment and leisure. It owns and manages desirable real
estate that meets occupiers' demands, delivers reliable, repetitive and
growing income-led returns and outperforms over the long term.

Further information is available at www.londonmetric.com
(http://www.londonmetric.com)

 

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