Logicor swerves back to secured debt with pre-Brexit bond

Warehouse
By Owen Sanderson
03 Oct 2019

Logicor, the UK and European logistics group owned by China Investment Corp and Blackstone, is marketing a secured bond of up to £900m this week to take out some existing debt, hitting the market window ahead of expected disruption around the UK’s EU exit date of October 31.

Goldman Sachs and Morgan Stanley are global coordinators on the deal, with BNP Paribas an active bookrunner and liquidity facility provider.

The deal is structured as a single borrower CMBS with only class ‘A’ notes. Because it is not tranched it falls outside the EU definition ...

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