Helical Bar wraps up retail bond in £155m debt package

Helical Bar has raised £155m of new debt in a combination of bank finance and a retail bond.

The quoted property company issued £80m of unsecured, seven-year retail bonds paying 6% – the seventh property company to tap the retail bond market and the first this year.

Chief executive Mike Slade said it “enables us to further diversify our funding sources with an entirely new source of funding, while extending the group’s debt maturity profile”.

The company also signed a 4.5-year, £75m revolving credit facility with Barclays, which permits drawdowns up to 63% of the value of office assets in west London and The Guineas shopping centre in Newmarket.

Helical now has £175m of revolving debt in total, with £34m unused and available to fund acquisitions (see more).