Deutsche Bank (DB) has been selected to refinance the redevelopment of London's Olympia exhibition center with a 1.25 billion euro ($1.67 billion) loan, multiple media outlets reported Monday.
The loan, which was arranged by JPMorgan Chase (JPM) and Evercore (EVR), will refinance and recapitalize the real estate project owned by Deutsche Finance International and Yoo Capital, according to a Bloomberg report that cited sources with knowledge of the process.
The project attracted term sheets from over 15 credit providers including investment banks, commercial banks, and debt funds, Bloomberg reported.
The loan is priced at over 500 basis points, one of the sources told Bloomberg.
Deutsche Bank, Deutsche Finance International, and Yoo Capital did not immediately reply to a request for comment from MT Newswires.
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