Friday 2 October 2015 5:19 pm

Secure Income Reit completes £903m loan deal

Secure Income Reit, led by chairman Martin Moore, has today completed a £903m loan deal in a move that paves the way for the company to start paying out dividends to shareholders.

The fixed-rate loan will last 10 years and is secured against the group's £1,3bn property portfolio.

Today marks the third drawdown of a three-facility arrangement. The third and final loan is valued at £315.6m, and is secured against 11 of the company's healthcare assets. 

The deal follows two additional loans announced alongside the company's interim results on Tuesday.

"This marks the final stage of the re-financing with long-term, cheaper debt," said Moore, the Reit's chairman. 

"In conjunction with the asset sales completed earlier this year, this means that the company can now begin to pay out a dividend, expected to commence next autumn, ahead of the timescales anticipated at the time of the IPO last year.” 

This could be good news for shareholders – with 22 per cent of Secure Income shares in public hands.

The company has seen its value grow over the past year. In June 2015, Secure Income reported a market capitalisation of £450m – a significant improvement on its June 2014 valuation of £293m when it floated on Aim. 

Secure Income specialises in properties that generate "secure, inflation-protected income streams" and owns Madame Tussauds, Thorpe Park, Alton Towers and 21 private hospitals.