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Supermarket Income REIT PLC on Thursday said it has completed a £90 million refinancing through a new unsecured debt facility with Barclays PLC, which will be used to repay existing loans due to mature within the next year. The London-based real estate investment trust for property leased to grocery retailers said the facility will replace £30.0 million in secured debt from Wells Fargo & Co and £55.4 million from Bayerische Landesbank AG. Both legacy facilities will now be cancelled in full. The new interest-only facility has a three-year term with two potential one-year extensions at Barclays’ discretion. It carries a margin of 1.55% over Sonia. The REIT said it will use the value of existing interest rate hedges to cap the interest rate on the new facility at 5.0% for the three-year period, at no extra cost. Following the refinancing and the completion of a recently announced joint venture, the company expects a pro-forma loan-to-value ratio of approximately 31%. Chief Executive Officer Robert Abraham said: ‘This new facility continues our relationship with Barclays, a key funding partner to the company. Our strong relationships with existing lenders and the quality of Supermarket Income REIT’s portfolio continue to allow the company to access debt financing at attractive margins.’ Shares in Supermarket Income REIT were up 0.3% to 77.85 pence each in London on Thursday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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