Borrowers

Amsterdam-based Elfi has sourced a €45m loan from the UK-based manager for the repositioning project.

The credit ratings agency says the Toronto-based manager faces a 'severe test' meeting repayments as interest rate costs on the securitised loan soar.

Banks remain a major part of Europe’s refinancing picture, but insurers are also becoming more active.

The financing, from two Dutch and a French bank, will support the growth of the manager’s pan-European logistics platform.

Despite a risk-off environment, lenders are ‘having to get their heads around’ operational deals given the uptick in activity in the space.

Receiverships at Docklands office buildings in London suggest even prudent senior lenders will be impacted by problems in the office sector.

Debt providers can take steps to navigate complex situations in this challenging market, comments Ali Khaki, insolvency practitioner with FTI Consulting.

The Canadian manager secured financing from a consortium of lenders to develop a further 440,000 sq ft on its Harwell campus in Oxford.

Large commercial real estate exposures and rising credit risks of Swedish loans make the region’s biggest banks vulnerable as prices decline, DBRS MorningStar warns.

The Central Bank of Ireland’s latest review foresees continued price declines testing loan-to-value covenants.