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Centrus advises Grainger Plc on the refinancing and hedging of a bank facility for the Grainger Invest property portfolio

On 8th October 2015, Grainger Plc – the UK’s largest listed residential property owner and manager – closed the refinancing of an existing bank facility and ancillary interest rate hedging for the Grainger Invest property portfolio. The new £150m facility replaces an existing £120m facility, matures in September 2020 and the margin has been reduced by 85bps to 170bps. The structure will also enable pricing benefits to be realised in the future at lower levels of loan to value.

Centrus provided advice to Grainger in relation to selection of financing sources, business plan analysis, negotiation of financing terms, support for internal authorisations, analysis of hedging strategies and management of the hedging implementation process.