- What Schroder Real Estate Investment Trust has drawn down a £52.5m revolving credit facility from Royal Bank of Scotland
- Why Companies in the sector are taking conservative positions on access to debt and stockpiling cash
- What next The company’s LTV position remains unchanged
Schroder Real Estate Investment Trust has drawn down a £52.5m revolving credit facility in full from Royal Bank of Scotland.
It is one of a host of companies in the sector to draw down cheap debt facilities in order to ensure that they are accessible throughout the pandemic and have access to funds.
Following the drawdown Schroder REIT has approximately £87.5m in cash “which provides important operational flexibility to capitalise on future investment opportunities”.
The company said the facility is “an efficient source of funding that can be repaid and redrawn as often as required”. Its LTV remains unchanged at around 21% based on its valuation from 31 December.