Warehouse REIT signs Libor-linked loan maturing in 2025

By Mike Turner
27 Jan 2020

London-listed Warehouse REIT has signed a £220m loan, as the UK urban warehouse owner switches from bilateral to club borrowing. The deal will need to be revisited well before its five year tenor is up, as it is linked to the Libor benchmark that will essentially become obsolete for sterling trades after 2021.

The new facility is split between a £157m term loan and a £63m revolving credit facility. Both have five year maturities.

Barclays, Bank of Ireland, HSBC and RBC Capital Markets are providing the facility, replacing a £210m loan that was provided solely by HSBC.

The ...

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