Hammerson - which owns and operates shopping centres - said the facility can only be drawn on completion of the Intu acquisition, which was originally announced in December 2017. Once drawn, the funds will be used to repay some of Intu's debt facilities.
The Hammerson-Intu merger is due to complete by the end of 2018.
"This new facility supports our acquisition of Intu and is illustrative of the future refinancing opportunities in bringing Intu's secured debt structure onto Hammerson's unsecured debt platform," Hammerson Treasurer Richard Sharp said. "It is further evidence of the strength of our relationships with our existing banking group and continues to demonstrate the attractiveness of Hammerson's credit profile."
Hammerson said the unsecured facility will come with an initial margin of 100 basis points and is delivered from a syndicate of 12 of its relationship banks.
On Monday, Hammerson shares rose a quarter after it confirmed it had received and rejected a
Shares in Hammerson were 1.1% lower at
