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Regional REIT Limited announced on 12 December 2024 the repayment of £33.4m of borrowings. This repayment was £7.1m above the £26.3m earmarked from its July 2024 equity capital raise, with the additional sum sourced from its property disposal programme. As of 11 December 2024, the company's aggregate borrowings had reduced to £319.9m.
| Date | 12 Dec 2024 |
| Time | 07:00:02 |
| Category | Miscellaneous |
| ID | 7502P |
12 December 2024
REGIONAL REIT Limited
("Regional REIT", the "Group" or the "Company")
Borrowings Further Reduced
Regional REIT Limited (LSE: RGL), the regional property specialist, is pleased to announce the repayment of £33.4m of borrowings, ahead of schedule. The repayment is £7.1m above the expected £26.3m earmarked from the successful July 2024 equity capital raise.
The additional repayment has been sourced from the property disposal programme. The aggregate Company borrowings have now reduced to £319.9m (as at 11 December 2024).
Stephen Inglis, Head of ESR Europe LSPIM, Asset Manager commented:
"The Company is pleased to announce that borrowings have been reduced, ahead of schedule, to £319.9m. The Company continues to focus upon the asset disposal programme, leverage reduction and driving shareholder value by undertaking accretive capital expenditure to provide vibrant spaces for our current and potential tenants."
Forthcoming Events
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20 February 2025 |
Q4 2024 Dividend Declaration and Portfolio Valuation |
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25 March 2025 |
Full year 2024 Preliminary Results Announcement |
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15 May 2025 |
May 2025 Trading Update and Outlook Announcement |
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Q1 2025 Dividend Declaration Announcement |
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15 May 2025 |
Annual General Meeting |
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Note: All dates are provisional and subject to change
- ENDS -
Enquiries:
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Regional REIT Limited |
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Press enquiries through Burson Buchanan |
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ESR Europe Private Markets Limited |
Tel: +44 (0) 203 831 9776 |
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Investment Adviser to the Group |
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Adam Dickinson, Investor Relations, Regional REIT Limited |
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ESR Europe LSPIM Limited |
Tel: +44 (0) 141 248 4155 |
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Asset Manager to the Group |
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Stephen Inglis |
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Burson Buchanan Communications |
Tel: +44 (0) 20 7466 5000 |
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Financial Communications |
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Charles Ryland, Henry Wilson, Sam Adams |
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About Regional REIT
Regional REIT Limited ("Regional REIT" or the "Company") and its subsidiaries (the "Group") is a United Kingdom ("UK") based real estate investment trust that launched in November 2015. It is managed by ESR Europe LSPIM Limited, the Asset Manager, and ESR Europe Private Markets Limited, the Investment Adviser.
Regional REIT's commercial property portfolio is comprised wholly of income producing UK assets and comprises, predominantly of offices located in the regional centres outside of the M25 motorway. The portfolio is geographically diversified, with 131 properties, 1,303 units and 808 tenants as at 30 September 2024, with a valuation of c.£648.8m.
Regional REIT pursues its investment objective by investing in, actively managing and disposing of regional Core and Core Plus Property assets. It aims to deliver an attractive total return to its Shareholders, targeting greater than 10% per annum, with a strong focus on income supported by additional capital growth prospects.
The Company's shares were admitted to the Official List of the UK's Financial Conduct Authority and to trading on the London Stock Exchange on 6 November 2015. For more information, please visit the Group's website at www.regionalreit.com.
LEI: 549300D8G4NKLRIKBX73