Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF) said it had increased its unsecured debt facility with Sumitomo Mitsui Banking Corporation by £37.5 million to £104.5 million.
The real estate investment trust, which is fully hedged for the term of the facility, will pay 1.55% over the sterling overnight index average on the new line of credit, while the remaining £67 million will stay at 1.4% above SONIA.
"We are pleased to continue our relationship with SMBC, a key funding partner to the company," said Ben Green, director of Atrato Capital, the investment adviser to Supermarket Income REIT.
"Our strong relationships with existing lenders, and quality of the portfolio, continue to allow the Company to access debt financing at attractive margins."
Following the £34.7 million acquisition of Tesco stores announced on March 22, the company's loan-to-value is 34%.