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Supermarket Income REIT PLC on Wednesday said it had extended its debt refinancing arrangements with Sumitomo Mitsui Banking Group, providing the company with £37.5 million in additional funds. Supermarket Income is a London-based real estate investment trust, with a £1.73 billion portfolio of assets occupied by the likes of chains including Tesco PLC, J Sainsbury PLC and Waitrose. The company has increased its unsecured credit facility with Sumitomo to £104.5 million from £67 million. The interest-only facility matures in September 2026, and is priced at a margin of 1.55% above the SONIA rate benchmark, while the existing £67 million will remain at a margin of 1.40% above SONIA. Ben Green, investment advisor to Supermarket Income, said: ‘We are pleased to continue our relationship with SMBC, a key funding partner to the company. Our strong relationships with existing lenders, and quality of the portfolio, continues to allow the company to access debt financing at attractive margins.’ Shares in Supermarket Income were down 1.2% at 75.70 pence each in London on Wednesday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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