The unsecured revolving credit facility has an initial maturity of five years which can be extended to a maximum of seven years, subject to lender consent. The unsecured revolving credit facility replaces £488m of current bilateral secured debt facilities.
The Pinsent Masons team acting on the transaction was led by William Oliver, Real Estate Finance partner, with Esther Parkes and Emma Warby also working on the deal
Commenting on the deal William Oliver said:
“We are delighted to work with the banks on the new unsecured facility for St Modwen following on from acting on a similar deal on the new facilities for NewRiver REIT plc in the summer.”