Hammerson buys Project Jewel with €1bn RCF

Hammerson is funding its share of the purchase of NAMA’s €1.85bn Project Jewel with a new short-term €1bn revolving credit facility from its existing lenders. The facility, which matures in March 2017, reflects a loan-to-value of 81% on Hammerson’s €1.23bn share of the overall purchase price.