Alternative Income REIT flags lender rights following change of control
Alternative Income REIT ($AIRE-LSE) received a reservation-of-rights letter from HSBC concerning its £41 million facility after Glenstone’s offer became unconditional. That event triggered the facility’s change-of-control provisions. HSBC is no longer obliged to fund further drawings and can demand repayment of outstanding amounts, together with accrued interest. The bank has not requested repayment, and the REIT said it continues to meet obligations and operate normally. It has introduced HSBC