Value Retail has refinanced outlet shopping centre Bicester Village in Oxfordshire.
A club led by Lloyds Bank Commercial Banking has provided a loan of £320m to the firm. Lloyds acted as lead-arranger, agent and security agent with Helaba, while Royal Bank of Scotland and Santander acted as co-arrangers.
Marty Green, managing director mid-markets real estate at Lloyds, said: “Lloyds Bank is leading a strong bank club in providing a significant debt commitment to Bicester Village, and is becoming Value Retail’s UK clearing bank. We have taken time to develop a deep understanding of Value Retail’s business and look forward to broadening this meaningful relationship with them as they continue their success story.”
Value Retail chairman Scott Malkin added: “We appreciate the fact that our relationship banks understand and are supporting the outstanding quality of Bicester Village, and we look forward to
continuing to work with them.”
Value Retail last refinanced the 234,000 sq ft outlet centre in 2009, securing a new £190m debt facility with WestImmo, Helaba, DG Hyp, Abbey and RBS.
samantha.mcclary@estatesgazette.com
