In QuotedData’s other news 9 October 2019
- AEW UK REIT has a loan from The Royal Bank of Scotland. It has just negotiated changes to the covenants on this loan that permit the company’s borrowings to rise to 55% (loan to NAV), from 45% previously. The announcement stresses that the company has no plans to increase gearing which is currently 33.7%. The change just gives it more wiggle room should asset values fall.
- Tau Capital’s shares look set to be cancelled from trading on AIM after it failed to find a takeover target.
- Ground Rents Income will enter into new headleases of between 112 and 250 years with VITA Group in relation to six of the company’s purpose-build student accommodation ground rent assets. VITA will pay £1m over three years and Ground Rents will continue to receive inflation-linked rents. In addition, renegotiating a supplier agreement will save about £115,000 a year.