REG - Supermarket Inc REIT - £90 million debt refinancing update

Supermarket Income REITAnnouncement

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RNS Number : 9408G  Supermarket Income REIT PLC  01 May 2025

1 May 2025

 

SUPERMARKET INCOME REIT PLC

(the "Company")

 

£90 MILLION DEBT REFINANCING UPDATE

 

Supermarket Income REIT plc (LSE: SUPR), announces the completion of a £90.0
million refinancing through a new unsecured debt facility with Barclays (the
"Facility").

 

The Facility will be used to refinance the Company's existing secured debt
facilities with Wells Fargo and Bayerische Landesbank of £30.0 million 1 
(#_ftn1) and £55.4 million respectively. These facilities are due to mature
in the next 12 months and will now be cancelled in full.

 

The interest-only Facility has a maturity of three years, with two one-year
extension options at the lender's discretion, and is priced at a margin of
1.55% above SONIA. The Company intends to use the value of the existing
interest rate hedges on the refinanced Wells Fargo and Bayerische Landesbank
facilities to cap the interest rate on the Facility at 5.0% for the three year
term, at no additional cost to the Company.

 

Following the debt refinancing and completion of the recently announced joint
venture, the Company has an expected pro-forma LTV of c.31%.

 

Robert Abraham, CEO of Supermarket Income REIT, commented: 

 

"This new Facility continues our relationship with Barclays, a key funding
partner to the Company. Our strong relationships with existing lenders and the
quality of Supermarket Income REIT's portfolio continue to allow the Company
to access debt financing at attractive margins."

 

 

 

 FOR FURTHER INFORMATION                                                                           
 Supermarket Income REIT plc                                                                      ir@suprplc.com  
 Rob Abraham / Mike Perkins / Chris McMahon

 Stifel Nicolaus Europe Limited                                                                   +44 (0)20 7710 7600 
 Mark Young / Rajpal Padam / Catriona Neville                                                      
                                                                                                   
 Goldman Sachs International                                                                      +44 (0)20 7774 1000

 Tom Hartley / Luca Vincenzini

 FTI Consulting                                                                                   +44 (0)20 3727 1000 

  
 Dido Laurimore / Eve Kirmatzis / Andrew                                                          SupermarketIncomeREIT@fticonsulting.com  
 Davis

 

 

 

NOTES TO EDITORS: 

 

Supermarket Income REIT plc (LSE: SUPR, JSE: SRI) is a real estate
investment trust dedicated to investing in grocery properties which are an
essential part of the feed the nation infrastructure. The Company focuses on
grocery stores which are omnichannel, fulfilling online and in-person sales.
The Company's supermarkets are let to leading supermarket operators in the UK
and Europe, diversified by both tenant and geography. 

 

The Company's assets earn long-dated, secure, inflation-linked, growing
income. The Company targets a progressive dividend and the potential for
capital appreciation over the longer term.

 

The Company is listed on the closed-ended investment funds category of the
FCA's Official List and its Ordinary Shares are traded on the LSE's Main
Market. The Company also has a secondary listing on the Main Board of the JSE
Limited in South Africa.

 

Further information is available on the Company's
website www.supermarketincomereit.com (http://www.supermarketincomereit.com/)
 

 

LEI: 2138007FOINJKAM7L537 

 

 

Stifel Nicolaus Europe Limited, which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting exclusively for
Supermarket Income REIT plc and no one else in connection with this
announcement and will not be responsible to anyone other than the Company for
providing the protections afforded to clients of Stifel Nicolaus Europe
Limited nor for providing advice in connection with the matters referred to in
this announcement.

Goldman Sachs International, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom, is acting exclusively for
Supermarket Income REIT plc and no one else in connection with this
announcement and will not be responsible to anyone other than the Company for
providing the protections afforded to clients of Goldman Sachs International
nor for providing advice in connection with the matters referred to in this
announcement.

 

 

 1  (#_ftnref1) Total loan facility of £39 million, of which £30 million has
been drawn.

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