Aviva Investors and Segro have completed the refinancing of their Airport Property Partnership portfolio, The Wall Street Journal reports. The partnership has signed a five-year £400 million refinancing package.
The refinancing package was provided by a banking consortium, consisting of HSBC Holdings, Barclays Corporate, Royal Bank of Scotland, BNP Paribas, Credit Agricole CIB and Santander. The loan-to-value ratio of the fund is 46 percent and the all-in fixed cost of the debt is approximately 4 percent.
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