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Grainger Secures Senior Secured Bond - Quick Facts

Grainger plc (GRI.L) has issued a 350 million pounds senior secured bond at a coupon of 3.0% for 10 years. The Group said, following the recent equity raise, the net proceeds from the issue of the Bonds will be used to support Grainger's strategic growth plans, to continue to grow its PRS pipeline, and the repayment of a 200 million pounds short-term bank facility.

Grainger said it has continued to perform strongly since the interim results announcement on 14 May 2020. Rent collected on-time during May was 96%. Like-for-like rental growth remains robust, and occupancy levels were maintained over 97%.

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