Grainger gets £615m forward start in waning trend

Grainger, the residential property group, has become the latest in a long-line of UK borrowers to secure a forward start facility — although the structure is now becoming rarer as more companies are opting for plain vanilla refinancings. Grainger, whose shares rose 6% today following the news, extended £615m of term loans for between 18 months and two and a half years.

  • 01 Oct 2009

The borrower has signed two forward starts: a £250m piece that takes effect in June 2010 and a £365m term loan that starts in June 2011. Both mature in December 2012.

The smaller piece extends a £400m term loan, which will also be reduced to £250m immediately. The bigger ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Citi 10.72
2 Bank of America Merrill Lynch (BAML) 10.66
3 Credit Suisse 6.45
4 Lloyds Bank 6.42
5 JP Morgan 6.35

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%