Picton Property Income has completed a new £50m revolving credit facility (RCF) to replace two existing facilities that were due to expire in June 2021. Although initially undrawn, the facility maintains operational and financial flexibility, for a longer duration, at a slightly reduced cost. We expect FY20 results to be released later in June, although no date has been confirmed, including an update on the impact of COVID-19. The company entered this period of acute economic and sector
01 Jun 2020
Picton Property Income - Maintaining balance sheet strength and flexibility
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Picton Property Income - Maintaining balance sheet strength and flexibility
Picton Property Income Limited (PCTN:LON) | 63.4 -0.3 (-0.8%) | Mkt Cap: 347.2m
- Published:
01 Jun 2020 -
Author:
Martyn King -
Pages:
2
Picton Property Income has completed a new £50m revolving credit facility (RCF) to replace two existing facilities that were due to expire in June 2021. Although initially undrawn, the facility maintains operational and financial flexibility, for a longer duration, at a slightly reduced cost. We expect FY20 results to be released later in June, although no date has been confirmed, including an update on the impact of COVID-19. The company entered this period of acute economic and sector