In QuotedData’s other news – 25 June 2019
- Supermarket Income REIT (SUPR) has announce a 12-month extension of the maturity date of its £100 million Revolving Credit Facility with HSBC from 30 August 2020 to 30 August 2021. SUPR says that the original terms of the facility are unchanged, and the facility contains one further 12-month extension option to August 2022.
- GCP Asset Backed Income Fund has completed the placing that it announced on 23 May 2019. The placing has raised gross proceeds of £63.3 million for the Company. The net proceeds of the Placing will be used to repay circa £43 million drawn under the Company’s revolving credit facility and allow it invest in a pipeline of opportunities which have been identified by its manager.
- UK Mortgages is cutting its dividend to 1.125p per quarter – took longer than expected to invest cash and competition has been fierce, driving down returns. The trust has been overdistributing since launch, eating into its NAV. Even on the reduced dividend, the manager does not expect the dividend to be covered by cash flow until 2021.