Shopping centre landlord Hammerson has signed a £360m revolving credit facility.

The group announced this morning the successful syndication and signing of the placing at an initial margin of 90 basis points with a syndicate of fourteen international banks. The facility has a maturity of five years which may be extended to a maximum of seven years.

It follows the £400m private placement funded in January and the extension of its existing £415m and £420m RCFs by one year earlier this month.

Timon Drakesmith, chief financial officer of Hammerson, said: “This new credit facility is the latest milestone in our journey to reduce Hammerson’s cost of debt by refinancing in an attractive funding environment. I am particularly delighted to welcome five new banks into our relationship group and appreciate the support from major institutions from Asia, US and Europe.”