REG - Supermarket Inc REIT - £215 Million Joint Venture Debt Financing

Supermarket Income REITAnnouncement

01/07/2025 07:00

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RNS Number : 0885P  Supermarket Income REIT PLC  01 July 2025

01 July 2025

 

SUPERMARKET INCOME REIT PLC

(the "Company")

 

£215 MILLION JOINT VENTURE DEBT FINANCING

 

Supermarket Income REIT plc (LSE: SUPR) announces the completion of a new
£215 million secured term loan for its joint venture (the "JV") with funds
managed by Blue Owl Capital ("Blue Owl"), through a bank syndicate comprising
Barclays, HSBC, ING and SMBC (the "Facility").

 

The interest-only Facility has a maturity of three years, with two further
one-year extension options at the lenders' discretion. The Facility is priced
at a margin of 1.5% above SONIA and the joint venture intends to hedge the
drawn amount for the three-year initial term of the Facility.

 

The Company will receive 50% of the proceeds from the Facility, which will
initially be used to repay drawings under the Company's existing debt
facilities, prior to redeployment. The Company's current LTV, inclusive of JV
debt on a look through basis, is c.31%.

 

Robert Abraham, CEO of Supermarket Income REIT, commented: 

 

"We are pleased by the lender support and attractive pricing for this new
facility, which highlights the strength of our relationships with existing
lending banks, as well as the attractiveness of our high-quality grocery
assets."

 

 

 

 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 Davis                                                    SupermarketIncomeREIT@fticonsulting.com  

 

 

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.

 

 

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