trending Market Intelligence /marketintelligence/en/news-insights/trending/_b_Nxx5A7woDnzwxWJTmKw2 content esgSubNav
In This List

St. Modwen Properties signs £475M revolving credit facility

Blog

Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet


St. Modwen Properties signs £475M revolving credit facility

St. Modwen Properties Plc signed a new £475 million unsecured revolving credit facility, replacing £488 million of current bilateral secured debt facilities.

The new facility has an initial maturity of five years that can be extended to a maximum of seven years, subject to consent from the lender.

The refinancing provides a reduced cost of debt and improved operational flexibility, the company noted.

The lender syndicate for the new facility comprises the company's existing banking group, with Barclays Bank PLC, HSBC Bank Plc, National Westminster Bank plc and Santander UK plc, with the addition of AIB Group (UK) plc. Rothschild & Co. advised the company on the financing.