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LXi REIT PLC - FTSE 250 London-based commercial real estate investment trust - Agrees extension to existing £60 million loan facility with HSBC, part of HSBC Holdings PLC from December 2024 to December 2026, extending weighted average term from 5.1 years to 5.2 years. The HSBC facility was LXi’s earliest maturing debt and was originally extended to December 2024 in early March. It retains its existing 2.05% per year above the sterling overnight indexed average, or Sonia, benchmark and has a 2.50% interest rate cap until December next year. LXi expects to hedge the facility’s cost during the additional term to expiry in due course. Current stock price: 93.27 pence, down 0.3% in London on Monday 12-month change: down 26% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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