Corio, one of the largest quoted property investment companies focused on the European retail sector, has closed a new â¬ 600 million multicurrency syndicated revolving credit facility.
ABN AMRO and Fortis Bank jointly acted as co-ordinator and bookrunner for the facility, with ABN AMRO also acting as facility agent. HSBC CCF, ING Real Estate Finance and Royal Bank of Scotland also acted as mandated lead arrangers for the facility.
The purpose of the facility is to refinance existing debt and for general corporate purposes. The tenor is five years, with two one year extension options at the end of the first and second years.
Corio has a â¬ 3.9 billion portfolio mainly consisting of shopping centres in the Netherlands, France, Italy and Spain.