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Derwent extends £450m credit facility
(Sharecast News) - Derwent London has extended its principal £450m unsecured revolving credit facility due to mature in October 2026, the company said on Friday. The new loan has been structured as an initial four-year term with two one-year extension options, it added, and will be used for general corporate purposes and will provide future funding for the group's development pipeline and sustainability-led initiatives.
Derwent also elected to cancel two £32.5m revolving credit tranches that formed part of its bilateral facilities arranged with Barclays in December 2024 and HSBC in February 2025. The two £82.5m term loan components of these facilities remain in place, the property investor added.
Reporting by Frank Prenesti for Sharecast.com
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