Secure Income REIT completes refinancing

Secure Income REIT announced the completion of £903m of new financing arrangements.

In its interim results on 29 September, Secure Income said that two of the three new debt facilities had been drawn and the third had been signed and fully committed. It has now been drawn down.

This third facility is a new ten-year fixed rate non-recourse loan facility secured on 11 of the group's healthcare assets and amounting to £315.6m. The drawdown of the loan completed on Friday and was provided by funds managed by AIG Asset Management Europe Limited.

Chairman Martin Moore said: “As highlighted at our interim results, this marks the final stage of the refinancing with long term, cheaper debt. In conjunction with the asset sales completed earlier this year, this means that the company can now begin to pay out a dividend, expected to commence next autumn, ahead of the timescales anticipated at the time of the IPO last year.”

At 1435 BST, shares were up 1% at 255.05p.