Blackstone’s mortgage REIT, Legal & General and Rothesay Life have refinanced two-thirds of Secure Income REIT’s existing debt.
The non-bank lenders have collectively lent £587m secured against the UK listed company’s portfolio of leisure and healthcare properties.
Legal & General, acting on behalf of its annuity fund and unnamed third-party client, said it provided £220m of debt secured against nine UK private hospitals let to the Ramsay Group.
Blackstone Mortgage Trust, which is listed on the New York Stock Exchange, and Rothesay Life have provided credit for Secure Income’s leisure assets.
The refinancing replace existing credit facilities provided by Bank of Scotland.
Secure Income REIT’s total debt amounts to £885m, down from £1.16bn last year.
Secure Income REIT said the refinancing and the sale of Madame Tussauds (pictured) to Fubon Life last month have enabled it to repay £849m of its secured loan facilities.
The company said it was “continuing to pursue opportunities to refinance the balance of the porfolio”.