Tag Archives: British Land

British Land secured £485m RCF with headline margins back to pre-crisis levels

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British Land has signed a new £485m five-year unsecured revolving credit facility (RCF) at an initial margin of 90 basis points with a syndicate of seven banks, in the first sub 100 bps headline margin since 2007. CoStar News understands … Continue reading

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British Land secures largest unsecured revolving credit facility in six years

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British Land has secured a fresh £785m five-year revolving credit facility (RCF) with a syndicate of 14 banks, in the largest unsecured facility raised in more than six years. The UK’s second-largest REIT has negotiated a headline margin of 115 … Continue reading

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British Land secures £290m RCF from seven banks and counting

British Land has secured a £290m five-year revolving credit facility (RCF) from a consortium of seven international banks, as part of a wider debt raising strategy which has seen the UK’s second largest REIT raise as much as £2.8bn over … Continue reading

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CSC offers £350m in convertible bonds ahead of looming £2.2bn refi challenge

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Capital Shopping Centres (CSC), the specialist UK regional shopping centre REIT, has become the latest listed property company to launch convertible bonds, seeking to raise up to £350m in six-year dated paper. The senior, unsecured bonds mature on 4 October … Continue reading

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British Land looks to raise up to £400m in convertible bonds

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British Land, the UK’s second largest REIT, is raising £300m in five-year senior, unsecured convertible bonds, with the proceeds earmarked for the acquisition for Clarges Estate as well as additional recent acquisitions and to support development spending. The convertible bond … Continue reading

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Grosvenor raises £90m unsecured debt in UK private placement

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Grosvenor has raised £90m of long-dated debt in a UK bond private placement, which is the second issue of its kind by the Duke of Westminster’s property company in the last 18 months as the trend towards unsecured funding continues. … Continue reading

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Norges ‘under offer’ on BL and L&S’ bond-backed Meadowhall

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Norges Bank Investment Management, the world’s largest sovereign wealth fund, has gone under offer to buy a 75% stake of Sheffield’s Meadowhall shopping centre for between £1.15bn and £1.2bn, CoStar News understands. Norway’s Norges has been in talks, advised by CBRE, … Continue reading

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British Land and Schroders’ Hercules fund in £350m CMBS refi with MetLife, RBS and Lloyds

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Hercules Unit Trust, the specialist retail warehouse fund managed by Schroder Property and advised by British Land, has raised £350m in five-year senior debt across two separate facilities. The debt was secured by seven regional UK retail parks from Metropolitan … Continue reading

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LandSecs and BL to repay £120m JV CMBS debt on Aberdeen shopping centres

Land Securities and British Land’s joint venture Scottish Retail Property Limited Partnership is to repay the £119.5m loan securing their Bon Accord and St. Nicholas shopping centres in Aberdeen, when the securitised loan matures in July. CoStar News understands that … Continue reading

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