Unite Group revolving credit facility

On 20 November 2017, The Unite Group plc, as borrower, and a number of subsidiaries of the Company, as guarantors, entered into an unsecured revolving credit facility, with HSBC Bank plc, National Westminster Bank, Barclays Bank and Royal Bank of Canada, as lenders and arranger, and HSBC Bank plc and The Royal Bank of Scotland plc as hedge counterparties. Under this agreement, a £350,000,000 revolving loan facility was made available to Unite for drawing by the borrower. The facility size was increased in 2022 to £600,000,000.

The proceeds of the revolving credit facility can be applied towards the general corporate purposes of Unite, the refinancing of any of Unite’s existing secured debt and/or refinancing any facilities of Unite that have a maturity
date that is before the termination date of the revolving credit facility.

The facility has been extended to March 2026 with a further one year extension option available.

The revolving credit facility may be prepaid in whole or in any part and may be redrawn. The facility agreement contains no prepayment penalties, although break costs may be payable in certain circumstances.