London, 02 Jul 2012

Macquarie was the sole lender of an innovative stretched senior financing of a portfolio of 96 London residential flats and houses. The £21.1 million facility comprises a 3.25 year floating rate term loan with a fixed PIK element and zero amortisation.

The company used the proceeds of the issuance to refinance a bridge credit facility and reduce its overall financing costs. Speed was vital in this deal with transaction documents signed within two weeks of agreeing a term sheet and funds released one week later.

Macquarie developed a financing structure tailored for a diverse portfolio of London residential properties. The customised nature of Macquarie's solution proved more attractive to the company than traditional financing arrangements.