LONDON (dpa-AFX) - Great Portland Estates Plc (GPOR.L), a property developer and investor, said on Monday that it has signed a new 150 million pounds ESG-linked unsecured revolving credit facility or RCF at a headline margin of 90 basis points over SONIA.
Nick Sanderson, Chief Financial and Operating Officer, said: 'Along with our recent rights issue and sustainable sterling bond, this facility provides further flexibility for us to capitalise on the exciting pipeline of opportunities that we are unearthing, accelerated by our recent acquisitions of Whittington House and 19/23 Wells Street'
The facility has an initial three-year term which may be extended to a maximum of five years at GPE's request.
Three lenders participated in the facility. Two existing relationship banks, Lloyds Bank Plc and Bank of China, together with CaixaBank SA UK Branch, for whom the RCF represents their first banking relationship with the company.
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