REG - NewRiver REIT plc - Refinancing of Revolving Credit Facility

Newriver ReitAnnouncement

16/11/2023 07:00

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RNS Number : 6097T  NewRiver REIT PLC  16 November 2023

NewRiver REIT plc

("NewRiver" or the "Company" or the "Group")

 

Refinancing of Revolving Credit Facility

 

NewRiver is pleased to announce that it has refinanced its Revolving Credit
Facility ("RCF" or "facility").

 

 ●    New £100 million facility, with a £50 million accordion available subject to
      lender approval (previous facility £125 million with a £50 million
      accordion)
 ●    Maturity has been extended from August 2024 to November 2026 with option to
      extend the facility by two additional one-year terms (to November 2028),
      subject to lender approval
 ●    Annual cost has reduced as headline margin and quantum both reduced
 ●    All four banks in the previous facility have continued to support NewRiver in
      the new facility, being Barclays Bank PLC, HSBC UK Bank plc, National
      Westminster Bank plc and Santander UK plc

 

The Company was advised by Rothschild & Co.

 

Will Hobman, Chief Financial Officer commented: "We are pleased that the
strength of our financial position,  best-in-class asset management platform
and well positioned portfolio have been recognised by our key bank lenders,
who have each chosen to continue to support the long-standing relationships we
have established with them. By extending the RCF term for at least a further
three years we will continue to benefit from access to additional liquidity
and at the same time by reducing the size and margin of the RCF we have been
able to do so at a reduced overall cost."

 

Ends

 NewRiver REIT plc                           +44 (0)20 3328 5800
 Allan Lockhart (Chief Executive)

 Will Hobman (Chief Financial Officer)

 

 FGS Global           +44 (0)20 7251 3801
 Gordon Simpson

 James Thompson

 

 

About NewRiver

 

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust
specialising in buying, managing and developing resilient retail assets
throughout the UK.

 

Our £0.6 billion UK wide portfolio covers 7 million sq ft and comprises 26
community shopping centres and 12 conveniently located retail parks occupied
by tenants predominately focused on essential goods and services. Our
objective is to own and manage the most resilient retail portfolio in the UK,
focused on retail parks, core shopping centres, and regeneration opportunities
in order to deliver long-term attractive recurring income returns and capital
growth for our shareholders.

 

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange
(ticker: NRR). Visit www.nrr.co.uk for further information.

 

LEI Number: 2138004GX1VAUMH66L31

 

 

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