Wells Fargo Facility
On 30 October 2018, LDC (Ferry Lane 2) Limited Partnership, LSAV (Stapleton) Limited Partnership, LSAV (Wembley) Limited Partnership and LDC (Stratford) Limited Partnership, as borrowers entered into a facility agreement with Wells Fargo Bank N.A., London Branch as lender, agent, security agent and mandated lead arranger and Wells Fargo Securities International Limited as hedge counterparty. Under this agreement, a £250,000,000 term loan facility was made available for drawing by the borrower.
The facility is to be applied towards the general corporate purposes of the borrowers.
The facility terminates on 13 September 2022, with the option to extend it by two years if certain listed conditions are met, subject to an extension fee.
Legal & General Facility
On 19 December 2013, a facility agreement was entered into for the purposes of property financing, between Unite Capital Cities Limited Partnership, LDC (Capital Cities) Limited, LDC (Capital Cities Nominee No.1) Limited, Unite Accommodation Management 19 Limited, Legal & General Pensions Limited and LGIM Commercial Lending Limited. The total commitments under the facility are £149 million and the final maturity date of the facility is 19 December 2022.
Pursuant to the facility agreement, certain assets of the Company are secured.
Teachers Re Facility
On 1 February 2017, LSAV (Aston Student Village) LP, acting through its general partners, LSAV (Aston Student Village) GP1 Limited and LSAV (Aston Student Village) GP2 Limited, as borrower, and a number of subsidiaries of the Company, as guarantors, entered into a term loan facility agreement with Teachers Insurance and Annuity Association of America as lender and arranger and CBRE Loan Services Limited as agent and security agent. Under this agreement, a £140,118,000 property investment facility was made available for drawing by the borrower.
The facility was to be applied towards financing the cost of acquisition of four specified properties and the chattels, fixtures, fittings and equipment contained within them, and payment of any fees, costs and expenses, stamp registration and other taxes incurred by the borrower in connection with the acquisition of each property and the negotiation and completion of the finance documents related to the agreement and approved by the majority lenders.
The facility terminates on the first interest payment date falling on or after the date falling ten years from and including the date of the agreement (i.e. 15 April 2027), with the option to extend it by one year, which the lenders may accept in their sole discretion.