The consortium behind Battersea Power Station has secured a £1.1bn facility to refinance the construction debt on the project’s commercial aspects.
The site’s existing lenders have provided a fresh five-year facility, with the agreement following Loan Market Association green loan principles.
Those lenders include Standard Chartered, CIMB, Maybank, OCBC and DBS.
The cohort previously signed a similar debt facility for the project’s commercial element, which measures 3.5m sq ft, in 2019.
The £9bn regeneration project opened its doors in October 2022.
CBRE IM acted on behalf of the consortium, which includes Permodalan Nasional Berhad, Sime Darby Property, S P Setia and the Employees’ Provident Fund.
Photo © Jason Hawkes (courtesy of FTI Consulting)
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