British Land signs credit facility with 14 banks

3rd Apr 2014 07:06

British Land has signed a new 785m pound unsecured revolving credit facility with a syndicate of 14 banks.The facility has a maturity of five years which may be extended to a maximum of seven years. British Land has also closed and drawn, as scheduled, its £200m US private placement, signed in August 2013. Lucinda Bell, Finance Director, said: "We are very pleased with the level of support for this new Revolving Credit Facility. Over the last 12 months we have raised £1.5bn of debt finance on competitive terms from a broad range of sources. "By taking advantage of current market conditions, this Facility adds further flexibility and term to our already strong and well diversified debt portfolio."RD