U.K.’s largest publicly traded mall owner Capital Shopping Centres (CSC) has received a £375 million loan to cut borrowing costs, Bloomberg reports. The new loan will be replacing an existing undrawn £248 million facility set to expire in June 2013, adds PropertyEU.
HSBC Holdings and Lloyds Banking Group were coordinators on the deal, while Credit Suisse Group and UBS were the mandated lead arrangers. Bank of America Corp. also participated. CSC is the owner of 10 of the U.K.’s 25 largest malls by retail sales, including the Metrocentre at Gateshead and Manchester’s Trafford Centre.
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HSBC Holdings Capital Shopping Centres Lloyds Banking Group Credit Suisse Group U.K.