Helical Bar has secured a new £81 mln (€103 mln) debt facility from Aviva Commercial Finance, refinancing £27 mln of existing debt and boosting cash reserves by £54 mln.

Helical Bar has secured a new £81 mln (€103 mln) debt facility from Aviva Commercial Finance, refinancing £27 mln of existing debt and boosting cash reserves by £54 mln.

The 10-year facility, which is repayable in December 2024, allows drawdowns of up to 63% of value and carries a fixed interest rate of 3.48%.

The new facility refinances two London office properties (Shepherd’s Building, London W14 and One King Street, Hammersmith, London W6) as well as a retail asset at the Morgan Quarter in Cardiff.

Tim Murphy, finance director at Helical Bar, commented: 'This new 10-year, fixed-rate facility has extended the maturity on total secured debt within the group to 4.5 years at an average cost of 4.0%.'