Quarterly covenant test shows strong security

Quarterly covenant test shows strong security

The latest assessment of security cover for REAL Bonds Series 5 & 6 show another sound result.  Loans using bondholder funds represent only 28.04% of the value of first-charge UK security property, as assessed by external Royal Institution of Chartered Surveyors (RICS) member valuers.  Director Alan Bate comments, “The scheme’s maximum permitted loan-to-value is 75%, so the current assessment at under 30% shows that bondholders currently benefit from much greater security cover.”

Share this post