Tesco BL Properties (TBL), a 50/50 joint venture between British Land Company and supermarket giant Tesco has completed the refinancing of its retail portfolio with a new £315 mln (EUR 352 mln) five-year term loan. The funds were used to repay TBL's existing bank loan on its scheduled maturity date.
Tesco BL Properties (TBL), a 50/50 joint venture between British Land Company and supermarket giant Tesco has completed the refinancing of its retail portfolio with a new £315 mln (EUR 352 mln) five-year term loan. The funds were used to repay TBL's existing bank loan on its scheduled maturity date.
The new loan facility, completed on 23 December 2009, was provided by a club of five lenders in London: Eurohypo, Helaba, Santander Corporate Banking, Calyon Crédit Agricole CIB and Nationwide Building Society.
TBL was established in 1999 and now owns a portfolio of two retail parks, two shopping centres and five Tesco superstores. It is one of five joint ventures between British Land and Tesco.
