British Land offshoot refinances

The Gibraltar Limited Partnership, a joint venture in which property group British Land has a stake, has agreed a new five-year loan facility.

The Gibraltar Limited Partnership, a joint venture in which property group British Land has a stake, has agreed a new five-year loan facility.

The new £150m loan will be used to repay the existing debt finance, which would have matured in July 2012. The all-in rate on the loan is described as "significantly less" than the interest rate under the current finance.

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