Macfarlanes advises Supermarket Income REIT on comprehensive debt refinancing
18 September 2023Macfarlanes has advised long-standing client Supermarket Income REIT, the real estate investment trust dedicated to investing in grocery properties, on a comprehensive debt refinancing. The REIT is the UK’s largest landlord of omnichannel of grocery stores, with a portfolio value of over £1.63 billion.
The debt refinancing included the completion of a £67m unsecured multi-currency debt facility with a new lender to the group, Sumitomo Mitsui Banking Corporation. This new debt facility refinanced several shorter-dated secured facilities on which the Macfarlanes team also advised, including a £77.5m secured revolving credit facility with Barclays and Royal Bank of Canada.
The debt refinancing also involved advising on the amendment and extension of the REIT’s existing unsecured term and revolving credit facilities with a syndicate of lenders including Wells Fargo.
The Macfarlanes team was led by partner Colin Morgan, with assistance from senior counsel Laura Uberoi, associate Yagmur Yarar and paralegal Thomas Jacob.
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