Developer Hammerson has signed a new five-year revolving credit facility that reduces the pool of funding it can access from £505m to £415m, but almost halves its interest payments. In a statement to the London Stock Exchange, the firm said the five-year facility with a syndicate of nine banks would offer debt at an initial margin of 80 basis points and replace a previous facility due to expire in April 2016 that carried an initial 150 basis point margin.
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