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Refinancing
Lenders at the industry body’s London event said competition to back transactions is fierce.
The facility replaces a previous £450m RCF and features ESG-linked KPIs.
The loan is secured against one of the e-commerce firm’s largest UK distribution centres.
The 16-storey Park Tower Hotel is undergoing a transformation project.
The developer has added two banks to its existing lender consortium for the complex.
The debt will be used, alongside capital from the disposal of £85.9m of assets, for future acquisitions.
Paris-based Ardian’s Antoine Leboulanger says there is plenty of bank financing liquidity for the asset class.
The refinancing comes at a time when lender appetite for the asset class is on the rise.
The manager has had its most active year of European loan origination so far in 2025.
The loan is understood to be Europe’s largest private credit IOS deal to date.