Royal Bank of Scotland Corporate & institutional Banking has issued loans worth more than £100m in four deals by its Yorkshire and Scotland teams this month.
RBS provided a £30m rolling, corporate facility to South Yorkshire’s Strata Homes, for work in progress and several sites identified for acquisition over the next 12-24 months.
RBS would expect to refresh the facility in three years’ time. Its typical funding terms for this kind of deal are 60-65% loan-to-cost at around a 3.25% margin.
The bank also lent £43m of senior debt for new client JCAM Investments’ purchase of two business parks in Leeds and Birmingham.
It has issued £21m of refinancing to take Clydesdale out of a North East England deal and its final loan is £11m for new client Circle Property Unit Trust’s acquisition of Kents Hill training centre in Milton Keynes.
Further facilities of £17m will be drawn by this client in January. Stuart Heslop, MD of the business, said: “We’ve had a very busy December and there are two loans that may well slip into January, where we are committed to £75m of funding.
“The second half of 2013 has been much more active. These deals follow hot on the heels of the £28m funding of Barbirolli Square in Manchester.”