F&C Commercial Property Trust Limited announced that further to the announcements made by the company on 7 and 11 November 2014, the Board announced that, on December 31, 2014, the Groupdrew down in full the £260 million available under the ten year term loan facility agreement with Legal & General Pensions Limited. The transaction was conducted by LGIM Commercial Lending Limited. As previously announced, the L&G loan was provided to the Group for the purpose of refinancing the £230 million of secured bonds and a £30 million term loan facility provided by Barclays Bank plc, both of which were due for repayment on June 30, 2015.

Following this refinancing, the Group's borrowings comprise the £260 million L&G loan and a £50 million term loan facility provided by Barclays Bank plc. This amounts to £310 million and represents 24.6% of the total assets of the Group as at September 30, 2014. As previously announced, the interest rate on the L&G loan is 3.32% per annum.

The weighted average interest rate on the Group's borrowings is 3.57%.