RNS Number : 0067W
Brixton PLC
21 July 2009
Brixton plc
21 July 2009
Heathrow Big Box new £90m credit facility with WestImmo
Heathrow Big Box ('HBB'), the 50:50 joint venture between Brixton plc and the Prudential Assurance Company Limited, announces that it has completed a £90m credit facility with Westdeutsche ImmobilienBank AG ('WestImmo'). This facility together with £31 million of new partner loans to HBB from the joint venture partners has been used to repay the £121m loan facility with The Royal Bank of Scotland which expired on 20 July 2009.
The facility with WestImmo is secured, non-recourse and is for a term of three years from 20 July 2009, but with an option to extend for a further two years on 20 July 2012 subject to the satisfaction of certain conditions.
WestImmo are the sole Mandated Arranger, Agent and Underwriter for the facility which has been structured so as to enable it to syndicate some of its participation.
Mike Andrews, Director of Big Box GP Limited, commented:
'We are delighted to have completed the new facility with WestImmo for a term certain of three years which provides HBB with the financial platform to continue its activities.'
For further information contact:
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Steven Owen
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Deputy Chief Executive, Brixton plc
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020 7399 4532
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Mike Andrews
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Director, Big Box GP Limited
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020 7399 4518
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Kate Miller
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Brunswick
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020 7404 5959
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Peter Denton
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Westdeutsche ImmobilienBank
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020 7020 5420
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Jane Simpson
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Westdeutsche ImmobilienBank
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020 7020 5402
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This information is provided by RNS
The company news service from the London Stock Exchange
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