Conygar Investment Co - London-based property investment and development firm - Restructures debt facility in connection with development loan from Barclays PLC to its subsidiary. Says the restructuring extends the final repayment date of the loan to December 23 from Sunday. This enables further letting and stabilisation of Winfield Court, which it says was provided as security for the loan. Adds that the total facility amount reduces to £46.6 million from £47.5 million, with the interest rate margin payable falling to 2.0% from 3.25%. Says this will be offset by inclusion of a £500,000 exit fee.
Chief Executive Robert Ware says: ‘We are delighted to have extended the development loan facility with Barclays which will enable the further letting and better stabilisation of our student accommodation development for the 2025-2026 academic year.’
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12-month change: down 64%
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