British Land this week announced it had secured £485m of new banking facilities as it unveiled a new look for its Britannia logo.
The unsecured revolving credit facility has an initial margin of 90bps over LIBOR and was provided by a consortium of seven banks for an initial term of five years. It effectively replaces £400m of facilities and saves 25bps over a previous 2014 loan facility.
The seven banks participating in the loan are the Royal Bank of Scotland, Santander Global Banking & Markets, Bank of Tokyo-Mitsubishi UFJ, Barclays Bank, Bank of China, Credit Agricole Corporate and Investment Bank and Handelsbanken.
