Land Sec gets £1.2bn facility

THE UK’s biggest landlord Land Securities reported a new £1.26bn Revolving Credit Facility (RCF) yesterday in a further sign of increasing lending activity in the property market. The new RCF will last five years, with a possible two-year extension upon agreement of the bank syndicate involved in the refinancing. The firm’s previous RCF was worth £1.09bn, making the new one nearly 16 per cent larger. Eight banks comprise the syndicate.