Elite REIT bags £135m debt facilities

The REIT will use the fund to refinance its existing loan facilities.

Elite Commercial REIT has obtained a committed offer for debt facilities of up to £135m ($229.8m) from a group of financial institutions.

In a bourse filing, the REIT said it would use the funds from its debt facilities to refinance its existing loan facilities.

The REIT said the debt facilities will also allow it to "efficiently manage" its working capital.

 “Securing the commitment for this refinancing illustrates the strong fundamentals and resilience of our unique portfolio of properties in providing social infrastructure assets in the UK, as well as the strength of our banking relationships," Joshua Liaw, CEO of the REIT's Manager, said.