German bank HSH Nordbank said on Tuesday that it has arranged and underwritten a £325mln, five-year facility for Big Yellow, the leading provider of self storage facilities in the UK. The loan will replace a similar facility provided by a syndicate of banks led by the Royal Bank of Scotland. In a statement, HSH said the facility will be secured by fixed charges over Big Yellow's portfolio of self storage properties which provide nearly some 300,000 m[sup]2[/sup] of space.
German bank HSH Nordbank said on Tuesday that it has arranged and underwritten a £325mln, five-year facility for Big Yellow, the leading provider of self storage facilities in the UK. The loan will replace a similar facility provided by a syndicate of banks led by the Royal Bank of Scotland. In a statement, HSH said the facility will be secured by fixed charges over Big Yellow's portfolio of self storage properties which provide nearly some 300,000 m2 of space.
'We are delighted to have closed this prestigious transaction as Sole Mandated Lead Arranger,' said Judith Steinhoff, Global Head of Real Estate at HSH Nordbank. Big Yellow's focus on providing excellent customer service from purpose-built locations has enabled them to grow strongly in recent years and become a recognised market leader. The transaction shows HSH Nordbank’s capacity to robustly support strong and successful companies even in difficult phases of the UK property cycle.'
