LXi REIT agrees £100m revolving credit facility

LXi REIT has agreed a £100m revolving credit facility with Lloyds Bank to gear net proceeds from the company’s recent equity raise. The facility has been provided at a margin of 1.55% per annum over Libor and has an initial term of three years, which could be extended by a further two. The facility has been secured against a portfolio of the company’s assets and once fully drawn will maintain the REIT’s loan-to-value ratio at 30%. John White, partner at LXI REIT Advisors, said: “We are pleased to have agreed this new revolving credit facility with Lloyds Bank, which will