U.K. REIT, Hammerson, has received a £505 million five-year syndicated credit facility coordinated by BNP Paribas, PropertyEU reports. The loan size was increased from £400 million to £505 million following an over-subscription.
The loan will replace existing undrawn facilities of £670 million due to mature 2011-2013. The financial institutions that participated in the facility are BNP Paribas, Barclays Bank, Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, HSBC Bank, JP Morgan, RBS and Santander each providing £50 million. Crédit Agricole and Investment Bank, Deutsche Bank and Société Générale each granted £35 million.
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