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AEW UK REIT secures £60 million five-year term loan with fixed rate
By Marisa Wong
Los Angeles, May 12 – AEW UK REIT plc announced it secured a new £60 million five-year term loan facility with AgFe.
The loan is a fixed-rate loan with a total interest cost of 2.959%, according a press release.
The existing £54 million RBS International loan facility set to mature in October 2023 will be repaid in full by the new loan.
Simultaneous to the funding, the company’s interest rate cap will be sold, with its value at £908,000 as of April 30.
The company said that in the current inflationary environment, it considers it prudent to fix the loan now, rather than run the risk of further rising rates.
The real estate investment trust is based in the London.
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