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- Pricoa Mortgage Capital leads Q-Park EUR 300m refinancing.

BANKING AND CREDIT NEWS-October 18, 2013-- Pricoa Mortgage Capital leads Q-Park EUR 300m refinancing(C)2013 M2 COMMUNICATIONS

18 October 2013 -- Pricoa Mortgage Capital provided EUR 240m of funding for Dutch parking facilities owner Q-Park's refinancing of a EUR 300m commercial mortgage-backed security.

The commercial mortgage-backed security transaction which was placed in the capital markets in 2007.

Funding for the refinancing was provided by Pricoa Mortgage Capital company and various funds managed by UK-based Insight Investment Management. Rabobank acted as sole bookrunner and mandated lead arranger.

Pricoa Mortgage Capital company provided EUR 240m which was secured by more than a dozen parking facilities located inthe Netherlands. Various funds managed by Insight Investment have provided GBP 35m, secured by multiple parking facilities located in Great Britain.

Furthermore Q-Park redeemed EUR 20m. This redemption together with the diversified funding sources underscores Q-Park's ability to tap into debt capital markets and secure funds beyond its group of relationship banks.

Pricoa Mortgage Capital company is a full-service, commercial and multifamily mortgage finance business with more than USD 74bn in assets under management and administration as of June 30, 2013.

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1 USD = 0.6193 GBP

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Publication:M2 Banking & Credit News (BCN)
Date:Oct 18, 2013
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