Shires Income Plc announced that it has entered into a new £20 million loan facility agreement with Scotiabank Europe PLC. The New Facility is for a three year period to 20 September 2022 and extends the Company's previous £20 million loan facility agreement with Scotiabank Europe PLC which was due to mature on 30 October 2020. Under the terms of the New Facility, a £10 million fixed rate loan has been drawn down at an all-in interest rate of 1.706% per annum. This rate of interest is fixed until the maturity of the facility on 20 September 2022 and the proceeds have been used to repay the Company's previous £10 million fixed rate loan which had a higher all-in interest rate of 1.956% per annum, with only a modest break cost being incurred on repayment of the existing fixed rate loan. In addition, £9 million has been drawn down on a revolving basis, at an all-in interest rate of 1.62148% per annum, with first maturity on 21 October 2019, and the proceeds have been used to repay the Company's previous drawings under the old facility. Following the drawdowns under the New Facility, the Company's borrowings are unchanged at £19 million.