Lok’nStore finds extra space for longer loan maturity

By Mike Turner
24 Jul 2020

Lok'nStore, the UK self-storage company, has activated a clause on its £75m revolving credit facility to extend the deal by another year, as UK loans bankers say there has been a flurry of smaller sterling deals in recent weeks.

Lok'nStore only signed the five year revolver from Lloyds and NatWest Markets last year, and has now increased the maturity so it is due in April 2025. 

The deal is priced at 150bp-175bp over Libor, depending on the loan to value of the company’s properties against its debt. At ...

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