Custodian REIT completes £50m term-loan facility with Aviva IREF

UK property investment company Custodian REIT has completed a new term-loan facility for £50m with Aviva Investors Real Estate Finance.

It said the facility comprised two tranches -- one of £35m and the other of £15m.

Custodian REIT drew down the first tranche on 6 April. It was repayable on 6 April 2032 with a fixed rate of interest of 3.02% per annum payable on the balance.

It said the second tranche was available for draw down on or before 5 October 2017, with a fixed rate of interest payable on the balance, calculated at the same margin as Tranche 1 above the prevailing Treasury 4.25% 2032 gilt rate on the date of draw down.

Following agreement of the new loan, Custodian REIT had £150m of agreed debt facilities.

At about 11:30 GMT, its shares were flat at 112.5p each.