UK property investor Panther Securities has successfully refinanced its £68 mln (€79 mln) loan facility with existing lenders HSBC and Santander.
The new agreement replaces the existing loan with a four-year term, with the possibility of extension for another year. It is comprised of a £55 mln (€64 mln) term loan and a £13 mln (€15 mln) revolving credit facility.
The interest rate is set at 2.3%, with the possibility of increasing to 2.5% based on fluctuations in the three-month Sterling Overnight Index Average (SOIA). Importantly, both rates are lower than the previous loan that expires in July 2024.
To secure the loan, Panther Securities has pledged a portfolio of 100 properties with a combined value of £163 mln (€190 mln). These properties encompass various locations and usages, with around 950 units total.
Panther Securities owns and manages over 900 individual property units within over 120 separately designated buildings over the mainland UK. It specializes in property investing and managing secondary retail, industrial units and offices, and also owns and manages many residential flats in several town centre locations.
