Far East banks join British Land deal

Far Eastern banks Bank of China, Industrial and Commercial Bank of China and Bank of Tokyo-Mitsubishi UFJ have taken part in a syndicate that provided
£560m of debt for British Land. Arranged by Royal Bank of Scotland, the five-year, revolving unsecured corporate debt facility replaces a £790m loan set to expire in August.

It was 60% oversubscribed  and allowed British Land to raise its credit line by £260m. The club also included Bank of America Merrill Lynch, Barclays Capital, Crédit Agricole, HSBC, Lloyds Banking Group, Santander and Handelsbanken.

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