FINANCE: Helical Bar has secured an £81m, 10-year debt facility from Aviva Commercial Finance.
This refinances £27m of debt and boosts cash reserves by £54m.
The loan has a fixed interest rate of 3.48% and drawdowns of up to 63% are permitted.
The facility has refinanced two London office buildings at One King Street, W6, and Shepherd’s Building, W14, and a retail asset in Morgan Quarter, Cardiff.
Tim Murphy, finance director at Helical Bar, said: “Helical has a long-standing relationship with the team at Aviva and we are pleased to continue this relationship with agreement of this new 10-year fixed-rate facility which has extended the maturity on total secured debt within the group to 4.5 years at an average cost of 4%.”
