21st Oct 2026 07:00
21 October 2026
Savills plc
Refinancing of bridge facility for Eastdil Secured acquisition completed
Savills plc (Savills or the Group) announces it has agreed to issue US$350 million of new unsecured fixed rate US private placement notes. The US dollar-denominated notes, which cover three, five, seven and 10-year maturities, were placed with six institutional investors, including three new lenders to Savills, and have identical financial covenants to the Group’s other unsecured debt.
Subject to contract, the funds will be drawn on 2 December 2026 to repay the remaining US$350m drawn under the US$800m bridge facility entered into in March 2026 to fund the acquisition of Eastdil Secured and related transaction costs. NatWest and Lloyds acted as Joint Placement Agents on the new issue.
Nick Sanderson, Group CFO of Savills, commented: “We are pleased with the considerable investor appetite shown for this issue, the second time Savills has accessed the US private placement market. When combined with our US$450m three-year term bank loan, the bridge financing facility has now been fully refinanced at a current all-in pricing of 5.7% (in line with our expectations of between 5.5% and 6.0%). We remain focused on our strong cash generation and expect the net debt to EBITDA ratio to be c. 1.0 times at the end of 2027.”
For further information, please contact:
Savills plc |
020 7409 8934 |
Nick Sanderson, Group Chief Financial Officer |
|
Susie Bell, Investor Relations Director |
|
Teneo Communications |
07880 715975 |
Anthony Di Natale |
|
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