13th Jan 2010 10:29
13 January 2010
£315m Tesco/British Land Joint Venture Refinance Completed
Tesco BL Properties Limited ('TBL'), a 50/50 Joint Venture between The British Land Company PLC and Tesco plc, has completed the refinance of its retail portfolio with a new £315 million five year term loan. The funds were used to repay TBL's existing bank loan on its scheduled maturity date.
The new loan facility, completed on 23 December 2009, was provided by a club of 5 lenders in London: Eurohypo AG, Helaba, Santander Corporate Banking, Calyon Crédit Agricole CIB and Nationwide Building Society.
TBL was established in 1999 and now owns a portfolio of two retail parks, two shopping centres and five Tesco superstores. It is one of five Joint Ventures between British Land and Tesco.
British Land Contacts:
Amanda Jones (Investors) 020 7467 2946
Finsbury: Ed Simpkins / Gordon Simpson 020 7251 3801
Tesco Contacts:
Alistair Clark 01992 646 557
Sarah Titterington 01992 646 663
Related Shares:
British Land