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British Land obtains £735M revolver

Retail-focused British Land Co. PLC signed a £735 million, five-year unsecured revolving credit facility at an initial margin of 90 basis points.

The facility, which is an amendment and extension to a £785 million revolver with an initial margin of 115 basis points signed April 2014, may be extended by an additional two years.

The syndicate of 12 banks that agreed to the revolver are Lloyds Bank PLC, which also acts as facility agent; Sumitomo Mitsui Banking Corp. London Branch; Wells Fargo Bank NA London Branch; MUFG Bank Ltd.; Santander UK PLC; Barclays Bank PLC; Bank of China Ltd. London Branch; Royal Bank of Canada; The Royal Bank of Scotland PLC; BNP Paribas London Branch; Credit Agricole Corporate and Investment Bank; and Credit Industriel et Commercial London Branch.