Post by eeyore on Jun 30, 2021 16:12:58 GMT
New 36-month commercial term loan for Mansfield C*** H*** (PLL1005) has been announced.
Total loan: £845,000 LTV: 65%
Tranche A: £650k @ 6.43% gross (No cap)
Tranche B: £195k @ 8.03% gross (£5k cap)
The security is a first legal charge on the freehold of a 39-bedroom care home. The borrower is a SPV owned by the individual who owns both the current owner of the care home and the tenant which operates the care home. The loan's purpose is to raise capital. The apparent strategy is to continue to operate the care home profitably and presumably to redeem the loan at the end of the three-year term.
See the full loan request and valuation report for details which are available on the website.
Allocation of Tranche A funds for Always-On lenders has already taken place (Wednesday 30-Jun).
Tranches A & B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 2-Jul and allocation of Self-Select funds will take place on Monday 5-Jul.
Total loan: £845,000 LTV: 65%
Tranche A: £650k @ 6.43% gross (No cap)
Tranche B: £195k @ 8.03% gross (£5k cap)
The security is a first legal charge on the freehold of a 39-bedroom care home. The borrower is a SPV owned by the individual who owns both the current owner of the care home and the tenant which operates the care home. The loan's purpose is to raise capital. The apparent strategy is to continue to operate the care home profitably and presumably to redeem the loan at the end of the three-year term.
See the full loan request and valuation report for details which are available on the website.
Allocation of Tranche A funds for Always-On lenders has already taken place (Wednesday 30-Jun).
Tranches A & B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 2-Jul and allocation of Self-Select funds will take place on Monday 5-Jul.