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St Modwen finishes £135m refinancing

Debt facility for its Key Property Investments joint venture ends in March 2017

Developer St Modwen Properties has completed a £135m refinancing for its joint venture Key Property Investments.

The debt facility for the retail and commercial property vehicle, which it owns with Salhia Real Estate Company, lasts until March 2017.

In an announcement to investors St Modwen said none of its debt facilities now require renewal before 2014.

Last week VSM Estates, a joint venture between St Modwen and contractor Vinci, was selected as the preferred bidder for the £2bn redevelopment of New Covent Garden Market in London.

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