Liberty International arranges 710m financing secured on two shopping centres (UK)

Liberty International plc, said it has entered into two new 10-year non-recourse term loan facilities totalling £710m through its wholly owned subsidiary Capital Shopping Centres plc (CSC).

It said the financing is secured on two of CSC's regional shopping centres, Braehead, Renfrew, Glasgow, and The Harlequin, Watford.

Liberty said the proceeds will be used, after repayment of the £172.5m loan currently outstanding on The Harlequin, to substantially refinance the 653 mln stg acquisition by CSC in March of 50% of Prudential Assurance Co Ltd's interests in Cribbs Causeway, Bristol, and the Manchester Arndale shopping centre.
Source: Freeman News/AFX

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