LONDON (Thomson Financial) - McKay Securities PLC said it now has 55 mln stg of funds available for new projects and acquisitions, having increased loan facilities by 35 mln stg.
The company also said it has entered into a new 10-year loan agreement with Alliance & Leicester PLC and extended facilities with three of its existing long-term lenders.
The real estate investment trust said its overall lending margins have been reduced, and the weighted average expiry of its facilities has increased to 7.9 years. No debt is repayable within the next three years, it added.
The company said it has also increased its financial hedging instruments by 5 mln stg to 140 mln stg, without reducing the 8.9-year weighted average maturity in respect of these instruments. TFN.newsdesk@thomson.com tsm/ajb COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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