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LXi REIT agrees £55m fixed term loan
StockMarketWire.com
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LXi REIT has signed a 12-year, fixed rate, interest only loan facility of £55 million with Scottish Widows, acting in partnership with Lloyds Bank Commercial Real Estate.
The facility is repayable on 3 July 2029 and has a fixed all-in rate payable of 2.93% per annum, for the duration of the 12-year loan term.
LXi REIT said this fixed interest rate was just under 300 basis points lower than the company's average net initial property yield of 5.9%.
The facility is secured against both the built and forward funded assets acquired by the company utilising the equity raised on admission in February 2017.
Story provided by StockMarketWire.com
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