A bank presentation was held on Monday for the syndication of the £190m refinancing for Holmes Place arranged by Lloyds TSB Capital Markets. Ticket sizes to the market range from £5m to £10m.
The deal replaces a £130m deal signed in 2000 with terms and conditions remaining similar. That loan was divided into a £100m five year term loan which paid 187.5bp over Libor and a £30m five year revolver. The margins are tied to a net debt to Ebitda grid.
