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UKCM in advanced talks to refinance Lloyds facility

05 March 2015 09:14

UK Commercial Property Trust Ltd is in advanced talks to refinance its £80m term loan facility with Lloyds through a 12-year term loan facility with a new lender. It was repayable in June 2015.

It has also agreed terms for the amendment and extension to the existing Barclays facility, which was a seven-year, £150m term-loan facility repayable in May 2018.

"The Articles require the Board to put to Shareholders an ordinary resolution approving the continuation of the Company at the annual general meeting of the Company to be held in 2016 and on a five yearly basis thereafter.

"In the light of the proposed Refinancing, the Board is proposing a special resolution to amend the Articles to replace the current continuation vote with a vote in 2020 and seven yearly thereafter."

At 9:14am: (LON:UKCM) UK Commercial Property Trust share price was -0.4p at 91.1p

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