HSBC backs £400m refinance of UNITE UK Student Accommodation Fund
The UNITE Group plc (UNITE), the UK’s leading developer and manager of student accommodation, has today announced the completion of a £405 million refinancing that provides a new debt funding platform for the UNITE UK Student Accommodation Fund (“USAF”).
HSBC and Lloyds Bank Commercial Banking played a key role in the deal, acting as Lead Arrangers.
The new secured debt funding platform includes £380 million raised though a 10-year sterling fixed-rate bond issue, priced at 3.4%, an £8 million liquidity fund provided by HSBC and a £25 million five-year Revolving Credit Facility (RCF) provided by Lloyds Banking Group …