Real estate

Grainger signs £150m refinance agreement

Paperwork - Residential property owner has refinanced - SantanderCB

Residential property owner and manager Grainger has refinanced its Grainger Invest property portfolio bank facility with existing lenders Santander and HSBC. The new £150m facility replaces an existing £120m facility and will represent 11% of total group facilities. Its maturity has also been extended from March 2016 to September 2020, leaving the group with no further significant facility maturities until that date. The margin on the facility has been reduced by 85 basis points to 170bps.


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