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.
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