REG - Great Portland Ests. - GPE signs new £525 million ESG-linked RCF

Great Portland EstatesAnnouncement

23/10/2025 07:00

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RNS Number : 4642E  Great Portland Estates PLC  23 October 2025

 

 

23 October 2025

 

GPE signs new £525 million ESG-linked revolving credit facility

 

Great Portland Estates plc ('GPE' or the 'Group') announces that it has signed
a new £525 million ESG-linked unsecured revolving credit facility ('RCF')
with a group of four existing relationship banks. The facility has a headline
margin of 105 basis points over SONIA, with an initial five-year term, which
may be extended to a maximum of seven years at GPE's request, subject to bank
consent. The facility incorporates our ESG KPI-linked margin adjustments and
standard unsecured financial covenants, consistent with our existing bank
arrangements.

 

The new RCF replaces the Group's existing £450 million facility and will be
available for general corporate purposes; this includes the prepayment of its
£75m term loan which has a headline margin of 175 basis points over SONIA.

 

In addition, GPE has exercised the first extension option on its existing
£150 million ESG-linked revolving credit facility, extending its maturity to
October 2028. The Group's total bank facilities remain unchanged at £675
million. These refinancing activities have increased the Group's weighted
average debt maturity by approximately two years on a fully drawn basis.

 

The participating banks are NatWest, Santander, Bank of China and Lloyds Bank
plc. NatWest acted as the Documentation Coordinator and Santander as the
Sustainability Coordinator.

 

Nick Sanderson, CF&OO, said, "We are delighted to have arranged our
largest ever bank facility with existing relationship banks, demonstrating
strong support for our focused strategy. Along with our existing £150m RCF,
our bank debt facilities provide further flexibility for us as we allocate
capital into our development and refurbishment pipeline, delivering premium
spaces for our customers."

 

 

 Great Portland Estates plc                                                                                                                                                                                +44  (0)  20  7647   3000
 Nick Sanderson, Chief Financial & Operating Officer
 Martin Leighton, Joint Director of Finance
 Holly Reynolds, Senior Corporate Finance & Tax Manager

 FGS Global
 James                                                                                                                                                                                                     +44  (0)  20  7251  3801
 Murgatroyd
 Gordon
 Simpson

 

For further information see www.gpe.co.uk or follow us on X at @GPE_London

LEI Number: 213800JMEDD2Q4N1MC42

 

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