Bulletin

Picton Property Income secures £27m credit facility

Properties - Picton Property Income Ltd enters five year £27m revolving credit facility - SantanderCB

Picton Property Income Ltd has announced that it has entered into a five-year £27m revolving credit facility with Santander Corporate & Commercial Banking.

The facility will provide Picton with greater operational flexibility, it said. Along with Picton's other facilities, it can be used to meet the repayment of 7.25% Zero Dividend Preference Shares that mature in October, and will provide it with 'additional firepower to make opportunistic acquisitions'.

The facility is secured across four property assets, and has a non-utilisation fee of 70 basis points, equivalent to £190,000 per year. Once drawn it will incur an interest charge equivalent to 2.3% per year.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

Other Articles

GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin
GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin

Where Next?