Tesco British Land secures £315m club deal

14 Jan 2010

Tesco BL Properties, a 50/50 joint venture between British Land and Tesco, has obtained a £315m clubbed term loan from five banks to replace a line backing its acquisition of a portfolio in 2005.

Calyon, Eurohypo, Helaba, Nationwide Building Society and Santander provided the five year facility, which was signed late last month but announced this week.

The debt will be used to refinance a £315m revolver signed in January 2005 for the purchase of a property portfolio, including five Tesco stores, two ...

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