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CLS secures £61.7 million loan from Scottish Widows
StockMarketWire.com
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Real estate company CLS said it had secured a £61.7 million loan with Scottish Widows on a portfolio of five UK office properties.
The 12-year loan has a loan-to-value ratio of 55% and a fixed interest rate of 2.65%.
This loan replaced two existing loans of £27.4 million, which were due to expire before the end of 2021, as well as financing three recent unencumbered acquisitions.
Overall, the transaction would result in net additional cash to CLS of £33.7 million, after costs, the company said.
At 8:47am: (LON:CLI) Cls Holdings PLC share price was 0p at 217p
Story provided by StockMarketWire.com
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