Telford Homes refinances
Telford Homes has secured a new £180m corporate loan facility with HSBC, RBS, Santander and Allied Irish Bank. The loan replaces Telford’s existing £120m facility. The new revolving credit facility matures in March 2019. It is the first time Allied Irish has participated in Telford’s financing.
New facilities for UKCPT
UK Commercial Property Trust is in talks to refinance £300m of loans with Cornerstone Real Estate Advisers Europe. The current £80m, 12-year Lloyds Bank facility expires in June and a seven-year £150m facility with Barclays expires in May 2018. Lloyds will be repaid £100m from the new facility, with the balance used for general purposes.
RBS refinances Harworth
RBS has refinanced a £65m agreement with regeneration company Harworth Estates, following its takeover by Coalfield Resources. The revolving credit facility replaces existing facilities with Lloyds Bank and Barclays. The company’s portfolio comprises 27,000 acres across 200 sites.
BNP PRE profits rise
BNP Paribas Real Estate has posted a 16% rise in pretax profit to €172m (£117m). The firm billed €752m in fees in 2014, up by 8% on 2013. The UK’s share of activity increased from 19% in 2013 to 23% in 2014. Some 34% of all fees came from property development. Commercial real estate accounted for 87% of total fees.
