abrdn Property expects to repay bank debt before merger with Shire

Chicago, July 26 – abrdn Property Income Trust announced that it plans to repay its floating-rate credit facility, according to a notice.

The company said that after an extensive review of options, it will be combining with Shires Income plc.

The floating-rate debt will be repaid before the combination.

abrdn’s shares will roll over into Shires shares, unless shareholders elect to receive cash.

The aim is for the transaction to be completed in October or November of 2023.

The real estate investment trust is based in the United Kingdom.

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