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UK Commercial Property unit draws down loan

08 April 2015 13:29

UK Commercial Property Trust has confirmed that its wholly owned subsidiary, UK Commercial Property Finance Holdings, has drawn down in full the £100m available under the 12 year, fixed rate, term loan facility agreement with Cornerstone Real Estate Advisers Europe.

The company says that as previously announced, the new facility was provided to the group for the purpose of refinancing the £80m term loan facility provided by Lloyds Bank, which was due for repayment on 19 June. The balance of the new facility will be used for working capital purposes.

At 1:29pm: (LON:UKCM) UK Commercial Property Trust share price was +0.38p at 92.98p

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