Unite Group to Refinance 236 Million-Pound Loan After GIC Deal

Unite Group Plc (UTG), the U.K.’s largest provider of student accommodation, said it plans to refinance a 236 million-pound ($382 million) loan next year after signing a new partnership with Singapore’s government investment arm.

HSH Nordbank led a syndicate of banks in the loan to Unite Capital Cities, a venture between Unite Group and the Government of Singapore Investment Corporation, maturing in September 2014, according to a statement today.

The partnership deal extends the life of the UCC fund to September 2022 from March 2013.

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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