IM Properties wins two refinancings

IM Properties has secured £150m of debt in two separate facilities from Handelsbanken and Clydesdale Bank Corporate & Structured Finance. Handelsbanken’s five-year, £95m loan replaces debt that expired in June, while the £55m from Clydesdale replaces a £43m Bank of Ireland loan that was due to mature. The debt is backed by two office, retail and industrial portfolios.

Meanwhile, Helios and JC Musgrave have replaced a £25m HBOS facility with a five-year, £45m loan from Lloyds Banking Group, secured against Wynyard Park in County Durham. It will fund the scheme’s first residential development phase. CLS Holdings has secured a €33.02m credit facility from Danske Bank and raised another  €35m by refinancing €128m of French loans with Landesbank Saar and Société Générale.

SHARE