AIG has provided a £900m financing package to Camden Market owner Market Tech. The package includes an initial £300m facility to be drawn down immediately with further tranches available over the next two years. The loan replaces debt from Nomura and Bank of Cyprus totalling £202m and will be priced at an average margin of 1.9% over the term. The initial £300m drawdown will put Market Tech’s loan-to-value ratio at around 35%.
AIG has provided a £900m financing package to Camden Market owner Market Tech. The package includes an initial £300m facility to be drawn down immediately with further tranches available over the next two years. The loan replaces debt from Nomura and Bank of Cyprus totalling £202m and will be priced at an average margin of 1.9% over the term. The initial £300m drawdown will put Market Tech’s loan-to-value ratio at around 35%.
jack.sidders@estatesgazette.com
