International law firms Pinsent Masons and Salans in an alliance advised The Royal Bank of Scotland plc and HSBC Bank plc as co-ordinating mandated lead arrangers providing £350 million (approx. 387 mln.) and 40 million of secured term and revolving credit facilities to self-storage operator Safestore Holdings Plc.
The facilities will be made available to Safestore Holdings plc and certain of its subsidiaries, including Une Pièce en Plus SAS in France, and the proceeds will be used to refinance existing debt and for the group's general corporate purposes. The announcement was made at the international property show MIPIM, in Cannes France.
Commenting on the advice provided by Pinsent Masons and Salans, The Royal Bank of Scotland plc Managing Director Dave Rome said, "Pinsent Masons and Salans did an excellent job on this transaction - the Alliance between the two firms delivering seamless, comprehensive, consistently high quality advice in the UK and France."
The transaction team was led in London by Pinsent Masons' Banking partner Chris Tart, supported by Suggen Dosanjh and Marine Stroud, with the Salans team comprising Philippe Max and Maria Nenova in Paris.
This is the latest in a series of multi-jurisdictional deals that Pinsent Masons and Salans have jointly advised on since the Alliance between the two firms was formed last year.
Source: Brown Lloyd James Financial