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.