Grainger has renewed the core syndicated bank facility as it approached maturity in July 2016. The new facility has been secured at a lower margin improving the overall group cost of debt. We do not make any changes to our forecasts at this stage. We retain our fundamental view that there is significant upside to be captured on the redeployment of capital released from the group’s reversionary portfolio which can be reinvested in attractive PRS assets. Our BUY recommendation is predicated on a 2 ....
07 Aug 2015
Renews syndicated bank facility
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Renews syndicated bank facility
Grainger plc (GRI:LON) | 252 3.8 0.6% | Mkt Cap: 1,871m
- Published:
07 Aug 2015 -
Author:
Andrew Watson -
Pages:
3
Grainger has renewed the core syndicated bank facility as it approached maturity in July 2016. The new facility has been secured at a lower margin improving the overall group cost of debt. We do not make any changes to our forecasts at this stage. We retain our fundamental view that there is significant upside to be captured on the redeployment of capital released from the group’s reversionary portfolio which can be reinvested in attractive PRS assets. Our BUY recommendation is predicated on a 2 ....