https://wiki.treasurers.org/w/index.php?action=history&feed=atom&title=Springing_term_loan 2026-05-06T15:41:00Z Revision history for this page on the wiki MediaWiki 1.40.0 https://wiki.treasurers.org/w/index.php?title=Springing_term_loan&diff=57627&oldid=prev 2024-12-24T12:39:25Z

<p>Remove out of date text.</p> <table style="background-color: #fff; color: #202122;" data-mw="interface"> <col class="diff-marker" /> <col class="diff-content" /> <col class="diff-marker" /> <col class="diff-content" /> <tr class="diff-title" lang="en-GB"> <td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">← Older revision</td> <td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 12:39, 24 December 2024</td> </tr><tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l10">Line 10:</td> <td colspan="2" class="diff-lineno">Line 10:</td></tr> <tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>:&quot;This year’s award for Loans Below £750m went to Balanced Commercial Property Trust (BCPT)... for its £320m dual-tranche facility.  </div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>:&quot;This year’s award for Loans Below £750m went to Balanced Commercial Property Trust (BCPT)... for its £320m dual-tranche facility.  </div></td></tr> <tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td></tr> <tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>:The trust, a FTSE-250 closed-ended REIT, is subject to continuation votes<del style="font-weight: bold; text-decoration: none;">, with the next vote due in 2024</del>.  </div></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>:The trust, a FTSE-250 closed-ended REIT, is subject to continuation votes<ins style="font-weight: bold; text-decoration: none;">..</ins>.  </div></td></tr> <tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td></tr> <tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td></tr> <!-- diff cache key acta01_wikiprod:diff::1.12:old-55335:rev-57627 --> </table>

Doug https://wiki.treasurers.org/w/index.php?title=Springing_term_loan&diff=55335&oldid=prev 2024-03-29T08:19:36Z

<p>Expand link title.</p> <table style="background-color: #fff; color: #202122;" data-mw="interface"> <col class="diff-marker" /> <col class="diff-content" /> <col class="diff-marker" /> <col class="diff-content" /> <tr class="diff-title" lang="en-GB"> <td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">← Older revision</td> <td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 08:19, 29 March 2024</td> </tr><tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l53">Line 53:</td> <td colspan="2" class="diff-lineno">Line 53:</td></tr> <tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Other resource==</div></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Other resource==</div></td></tr> <tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td></tr> <tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>*[https://www.treasurers.org/hub/treasurer-magazine/act-doty23-loans-below-750m-balanced-commercial-property-trust ACT Deals of the Year Awards 2023: Loans below £750m winner<del style="font-weight: bold; text-decoration: none;">]</del></div></td><td class="diff-marker" data-marker="+"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>*[https://www.treasurers.org/hub/treasurer-magazine/act-doty23-loans-below-750m-balanced-commercial-property-trust ACT Deals of the Year Awards 2023: Loans below £750m winner <ins style="font-weight: bold; text-decoration: none;">- BCPT</ins>]</div></td></tr> <tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div> </div></td><td colspan="2" class="diff-side-added"></td></tr> <tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del style="font-weight: bold; text-decoration: none;">[[Category:Accounting,_tax_and_regulation]]</del></div></td><td colspan="2" class="diff-side-added"></td></tr> <tr><td class="diff-marker" data-marker="−"></td><td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del style="font-weight: bold; text-decoration: none;">[[Category:Financial_products_and_markets]</del>]</div></td><td colspan="2" class="diff-side-added"></td></tr> <tr><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br/></td><td class="diff-marker"></td><td style="background-color: #f8f9fa; color: #202122; font-size: 88%; 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color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[Category:Financial_products_and_markets]]</div></td></tr> <!-- diff cache key acta01_wikiprod:diff::1.12:old-55329:rev-55335 --> </table>

Doug https://wiki.treasurers.org/w/index.php?title=Springing_term_loan&diff=55329&oldid=prev 2024-03-29T07:08:22Z

<p>Create page - source - ACT - https://www.treasurers.org/hub/treasurer-magazine/act-doty23-loans-below-750m-balanced-commercial-property-trust</p> <p><b>New page</b></p><div>''Lending - borrowing - contingency.''<br /> <br /> A springing term loan is one that only comes into effect on the occurrence of a pre-specified event.<br /> <br /> A springing term loan facility can be established to act as a backup facility, for example in the case of needing to refinance borrowings at a time when market conditions are unattractive.<br /> <br /> <br /> :&lt;span style=&quot;color:#4B0082&quot;&gt;'''''A unique fit-for-purpose financing structure'''''&lt;/span&gt;<br /> <br /> :&quot;This year’s award for Loans Below £750m went to Balanced Commercial Property Trust (BCPT)... for its £320m dual-tranche facility. <br /> <br /> :The trust, a FTSE-250 closed-ended REIT, is subject to continuation votes, with the next vote due in 2024. <br /> <br /> <br /> :Ahead of the upcoming maturities of existing facilities and vote, BCPT was looking to refinance its existing debt to bridge the vote and maximise flexibility around its outcome, while maintaining competitive pricing and retaining most of the favourable terms of its existing term loan. <br /> <br /> :At the same time, BCPT needed to plan for a range of vote outcomes, from the extension of the trust to its discontinuation via orderly disposals...<br /> <br /> <br /> :The resulting two-year facility (with two one-year extension options) included a £60m RCF and a committed ‘springing’ £260m term loan, which could only be drawn to refinance the existing institutional term loan.<br /> <br /> <br /> :Consequently, if the trust is extended, BCPT can refinance its existing institutional term loan ahead of maturity, through either the incumbent lender or bank lenders, or via a wider long-term capital markets solution. <br /> <br /> :If market conditions prove unattractive, the trust can draw down on the springing term loan to refinance the maturing existing institutional term loan, thereby removing near-term refinancing risk...<br /> <br /> <br /> :The transaction is believed to be the first of its kind in this sector, with a unique structure that is designed to manage current financing costs in a heightened rates environment, while also giving the trust both flexibility and funding certainty.&quot;<br /> <br /> :''ACT Deals of the Year Awards 2023: Loans below £750m winner.''<br /> <br /> <br /> == See also ==<br /> * [[Borrowing]]<br /> * [[Bridging loan]]<br /> * [[Capital market]]<br /> * [[Closed-ended]]<br /> * [[Debt]]<br /> * [[Facility]]<br /> * [[FTSE 250]]<br /> * [[Institutional]]<br /> * [[Lender]]<br /> * [[Real estate investment trust]] (REIT)<br /> * [[Refinancing]]<br /> * [[Refinancing risk]]<br /> * [[Revolving credit facility]] (RCF)<br /> *[[Springing covenant]]<br /> * [[Term loan]]<br /> * [[Tranche]]<br /> * [[Trust]]<br /> <br /> <br /> ==Other resource==<br /> <br /> *[https://www.treasurers.org/hub/treasurer-magazine/act-doty23-loans-below-750m-balanced-commercial-property-trust ACT Deals of the Year Awards 2023: Loans below £750m winner]<br /> <br /> [[Category:Accounting,_tax_and_regulation]]<br /> [[Category:Financial_products_and_markets]]<br /> <br /> [[Category:Accounting,_tax_and_regulation]]<br /> [[Category:Financial_products_and_markets]]</div>

Doug