London-listed investor Capital Shopping Centres (CSC) has secured a £375 mln (EUR 437 mln) revolving credit facility which will be used to provide liquidity for the group.
London-listed investor Capital Shopping Centres (CSC) has secured a £375 mln (EUR 437 mln) revolving credit facility which will be used to provide liquidity for the group.
The new facility replaces an existing undrawn £248 mln facility that is due to expire in June 2013. It has a minimum term of five years and an initial margin over LIBOR of 175 basis points.
CSC said that the five 'core relationship' banks are providing the new facility. HSBC and Lloyds Banking Group acted as joint co-ordinators. Bank of America Merrill Lynch, HSBC and Lloyds Banking Group acted as mandated lead arrangers and book runners. Credit Suisse and UBS acted as mandated lead arrangers.
