Legal & General Facility
On 27 April 2012, LDC (Portfolio 100) Limited, as borrower, and a number of the Unite group companies, as obligors, entered into a term loan facility agreement with Legal & General Pensions Limited as lender and LGIM Commercial Lending Limited as facility agent and arranger. Under this agreement, a £121,000,000 term loan facility was made available for drawing by the borrower. The facility has been partially repaid, and currently the loan amount outstanding is £107,900,000.
The facility is to be used only for the specified acquisitions, refinancing existing indebtedness relating to specified properties and for general corporate purposes.
The facility terminates on the tenth anniversary of the date of the agreement, i.e. 27 April 2022. The availability period for the facility terminates the date falling eleven business days after the date of the agreement.
Massachusetts Mutual Life Insurance Company Facility
On 29 January 2014, LDC (Portfolio 20) Limited, as borrower, and a number of Unite companies, as guarantors, entered into a term loan facility with Massachusetts Mutual Life Insurance Company as lender. The total commitments under the facility were up to £124 million as at the date of the facility, and the maturity date of the facility is 29 January 2024.