The U.K. and Irish unit of global property firm, Grosvenor Group, has raised £125 million in a long-term unsecured loan notes issue, PropertyEU reports. The money has been raised to diversify the group’s funding sources and help finance forthcoming investment in its London estate. The issue comprised £95 million of notes maturing in 2031 with a coupon of 5.57% and £30 million maturing in 2041 with a coupon of 6.05%. The financing, which was fully denominated in sterling, was heavily oversubscribed. The sole book-runner on the deal was Royal Bank of Scotland, while HSBC was the adviser.
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