$8M mezzanine loan for UK retailer.Wien Wien: see Vienna, Austria. & Malkin Mal´kin n. 1. Originally, a kitchenmaid; a slattern. 2. A mop made of clouts, used by the kitchen servant. 3. A scarecrow. 4. (Mil.) A mop or sponge attached to a jointed staff for swabbing out a cannon. Strategic Capital II L.P. has funded an $8 million mezzanine loan A mezzanine loan is a relatively large loan, typically unsecured (ie., not backed by a pledging of assets) or with a deeply subordinated security structure (e.g., third lien on the property but non-recourse vis-a-vis the borrower). for a term of three years to U.K.-based Value Retail, which operates eight destination outlet shopping "villages" in Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). . The funds will be used to continue Value Retail's development program. Interests in one of Europe's most successful outlet centers--Bicester Village in Oxfordshire, between London and Oxford--is securing the mezzanine loan. The loan will be repaid in U.S. dollars to eliminate currency exchange risk for the Wien & Malkin partnership. |
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