New £100m Unsecured RCF with Handelsbanken
Derwent London secures £100m unsecured revolving credit facility with Handelsbanken for five years.
- Unsecured RCF £100m
- Initial term 5 years
- Accordion option £50m
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Derwent London is pleased to announce that it has signed a £100 million unsecured revolving credit facility ("RCF") with Handelsbanken plc, a new lender to the Group. The RCF has an initial five-year term, with two one-year extension options and a £50 million accordion option, each subject to lender consent. The margin and financial covenants are in line with those of the Group's existing bank facilities.
Damian Wisniewski, Chief Financial Officer of Derwent London, said:
"Handelsbanken is a new lending relationship for Derwent London and I am delighted that we have agreed this facility on terms consistent with those of our existing relationship banks. This reflects the strength of the Group's business model, strategy and balance sheet, as well as the continued support of the banking market for our business."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.