Supermarket Income REIT

Supermarket Income REIT has announced a conditional offer of new ordinary shares to qualified retail investors in the UK via the RetailBook platform; placements with institutional investors in the UK and qualified investors in South Africa are running in parallel. The issue price will be set after bookbuilding, the minimum subscription is £250 and subscriptions can be made via ISAs, SIPPs or nominee accounts. The company intends to use the net proceeds to partially finance the purchase of three supermarkets for around £118m and a pipeline of six further grocery retail properties valued at £98m. The offer is subject to shareholder approval at the general meeting on 3 August 2026 and to admission to trading, expected on 5 August 2026; new shares rank equally except for exclusion from the fourth-quarter dividend. » More on de.investing.com

Supermarket Income REIT has completed a £445 million refinancing consisting of a £375 million syndicated facility and a £70 million bilateral facility. The agreements include revolving and term facilities with three- and five-year maturities plus extension options, increasing the weighted average remaining term of the debt from 2.9 to 3.8 years. New bank partners are Lloyds Bank and ABN AMRO; Barclays remained sole coordinator. The average margin on drawn amounts is 1.18% over SONIA, the weighted cost of debt is 4.4%, and 98% of liabilities are fixed or hedged through June 2028. » More on de.investing.com

Supermarket Income REIT reports a portfolio of £2bn after £398m of acquisitions and aims to double assets to £4bn. Management internalised the business, set up joint ventures (gross assets £845m) and cut the EPRA cost ratio to 9.2%, while EPRA earnings per share fell to 2.7p. LTV rose to 43%; the target is to bring it back below 40%. Dividend growth of at least 2% annually from fiscal year 2027 has been announced. » More on de.investing.com