Great Portland Estates has agreed £150m in unsecured debt with six institutional investors.
The US private placement notes included two new lenders to GPE.
The landlord is seeking to raise funds ahead of an anticipated post-Covid acquisition spree.
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Great Portland Estates has agreed £150m in unsecured debt with six institutional investors.
The US private placement notes included two new lenders to GPE.
The landlord is seeking to raise funds ahead of an anticipated post-Covid acquisition spree.
GPE issued the notes with 12 and 15-year maturities and a weighted average fixed rate coupon of 2.77%.
It will draw the funds on 5 November, increasing liquidity to more than £500m with a weighted average debt maturity of 7.5 years.
GPE director of corporate finance Martin Leighton said the placement “locks in low-cost, long-dated unsecured debt at a time of economic uncertainty and further enhances our significant financial capacity for growth should opportunities emerge”.
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