Grosvenor Fund Management has completed the refinancing of Grosvenor Liverpool Fund, which owns the 223,000 m2 Liverpool One shopping centre.
Grosvenor Fund Management has completed the refinancing of Grosvenor Liverpool Fund, which owns the 223,000 m2 Liverpool One shopping centre.
The bank debt for the Fund has been refinanced with a £410 mln (€563 mln) facility on a seven-year term with a club of banks comprising BNP Paribas, Crédit Agricole CIB, The Royal Bank of Scotland, Societe Generale and Sumitomo Mitsui Banking Corporation.
The terms represent a significant improvement compared to the previous 2010 facility, Grosvenor said in a statement.
'This is an exciting milestone for the Fund and follows a strong 12 months that saw investors committing to the modernisation of the Fund earlier in the year. These combined activities have provided us with a stable platform from which to implement a long-term asset management strategy for Liverpool One and reflects Grosvenor Fund Management’s ongoing commitment to Liverpool,' said CEO James Raynor.
