Grosvenor has refinanced a £552m tranche of its £1.1bn syndicated unsecured multi-currency revolving credit facility (RCF).
The transaction means that the full £1.1bn RCF, which was originally signed in 2021, has been refinanced in the past year.
The company has not disclosed the detailed terms of the facility, which is said would be used for general corporate purposes and would “further enhance the organisation’s capacity to respond to opportunities, shifts in the markets and other priorities such as the business’ global commitment to decarbonise its activities in line with science-based targets”.
Robert Davis, chief financial officer of Grosvenor, said: “We are pleased to have refinanced this facility during a period of supportive loan and financial markets, extending our committed liquidity on attractive terms.
“Enhancing the flexibility of our balance sheet and continuing to diversify our portfolio enables us to not only see through challenging times, and provide resilient returns, but also to take advantage of opportunities across the global real estate market. Our thanks go to our group relationship banks who have once again supported us by renewing their commitment to Grosvenor.”
