Tag Archives: Royal Bank of Scotland

Grosvenor secures competitive Liverpool ONE refinancing as shopping centre comes of age

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Grosvenor, the real estate company owned by the Duke of Westminster, has refinanced the 2.4m sq ft Liverpool ONE shopping centre with a seven-year £410m loan from a five-strong club of banks. Grosvenor, the real estate company owned by the … Continue reading

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RBS and Crédit Agricole CIB provide £90m loan for Great Ropemaker Partnership

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Great Portland Estates has arranged a new £90m five year non-recourse loan with Royal Bank of Scotland and Crédit Agricole CIB for The Great Ropemaker Partnership (GRP). CoStar News understands that the margin was 125 basis points over three-month LIBOR, … Continue reading

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Grainger secures £580m HSBC-led five-bank syndicate facility

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Grainger, the listed residential property owner and manager, has refinanced and enlarged its UK clearing bank-led syndicate facility to £580m while capitalising on tightening senior margin spreads. The new facility is approximately 50:50 part revolving credit facility (RCF) and part … Continue reading

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DB and Apollo secure CRE tranche of Ulster Bank’s Project Finn for £400m as same finalists prepare binding Lloyds’ Poisedon bids (Updated)

Royal Bank of Scotland has sold the largest tranche of the circa €2.6bn Project Finn non-performing Irish real estate loans from its Ulster Bank subsidiary to a joint venture comprised of Deutsche Bank and Apollo Global Management for £400m. CoStar News understands that … Continue reading

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RBS sells Project Coney to Sankaty Advisors and Project Rathlin to Cerberus

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Royal Bank of Scotland has sold two further non-performing loan portfolios secured against commercial properties in the Republic of Ireland and the bank’s final clean-up trade of Northern Irish assets. Sankaty Advisors, the affiliate of Bain Capital which has been … Continue reading

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BNP Paribas, ING and RBS sign €100m RCF for Goodman European Logistics Fund

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BNP Paribas, ING Bank and Royal Bank of Scotland have provided a five-year€100m revolving credit facility (RCF) for Goodman European Logistics Fund (GELF) as part of a broader strategy to increase the multi-billion fund’s size and scope. GELF, managed by … Continue reading

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RBS bad bank sheds one-third of gross CRE loans in 2014 leaving just £12.6bn remaining

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Royal Bank of Scotland shed one-third of its gross lending to commercial real estate held in its internal bad bank, RBS Capital Resolution (RCR), over 2014 through repayments, disposals and write-offs, leaving just to £12.6bn remaining. In its annual results … Continue reading

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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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BoE stress tests: UK banks exposed to £8.7bn CRE impairment charge under stress tests although loan books are ‘markedly improved’

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Seven of the UK major commercial banks would suffer a collective £8.7bn three-year cumulative impairment charge on their commercial real estate (CRE) portfolios under the Bank of England (BoE) stress test scenario published this morning. As much as two-thirds of … Continue reading

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