GIC’s £60m Chiswick Park loan

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GIC, the sovereign wealth fund of Singapore, has agreed to provide a £60m junior loan for Blackstone’s £480m purchase of Chiswick Park in west London

GIC has provided the junior debt for the transaction as part of its new lending tie-up with Deutsche Bank, which is providing a £300m senior loan. The deal will complete early next week.

Deutsche is in discussions with ratings agencies about providing a rating for a commercial mortgage-backed securities (CMBS) issue of the loan.

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