Chalkhill Partners prices £107m secured bond for Avenue Capital affiliates
Chalkhill Partners, the boutique investment bank, has priced a £107.26m five-year secured floating rate bond financing affiliates of Avenue Capital Group’s on its acquisition of four UK student accommodation blocks.
The £107.26m bond, issued through AYR Issuer S.A., has a closing LTV of 60%, net of a £3m prefunded six-month interest reserve retained by the issuer.
CoStar News understands that under 10 separate accounts, comprised of predominantly credit funds, acquired the bond which was priced at 145 basis points over three-month LIBOR …