Royal Bank of Scotland Corporate & Institutional Banking has written more than £200m of corporate loans this year for long-standing clients. The biggest is a £125m refinancing facility for Evans Property Group’s subsidiary Evans Management.
It will be put to use refurbishing an office and building a hotel in Leeds; extending holiday parks in the Forest of Dean and Sherwood Forest; and funding the purchase of a Dakota Hotel in Glasgow.
Barclays provided an extra £50m for the initiatives. RBS CIB has also issued £45m for developer The Marldon Partnership, a London residential specialist. A three-year, £35m invest-ment loan will refinance existing debt, while a new, £10m development facility will help transform a disused Vauxhall school into new housing.
For AIM-listed Conygar Investment Company, the bank has extended a new four-year £37.2m loan, secured on 20 group properties. The loan has a total interest cost of 4.3%, including a 3% margin, and is structured as a £27.2m term loan with a £10m revolving facility. The new facility replaces a previous loan with Lloyds, which was due to expire in January 2015.