Shaftesbury has entered ?into a new £125m five-year revolving credit facility with Lloyds.
The central London REIT, which lists Carnaby Street among its assets, said the facility would replace an existing £125m facility due to expire in April 2016.
The deal pushes out the average maturity of the group’s debt from 5.6 years to 6.2 years.
Shaftesbury said the refi did not involve the termination of any interest-hedging arrangements.
Last week the group, which has a 13-acre, £2bn portfolio, posted a 13.9% hike in NAV to £5.67p a share in its full year results.
bridget.o’connell@estatesgazette.com
