Northumberland Estates – Landed Estates
/ Debt

£200,000,000 Senior Unsecured Fixed Rate Notes

We raised £200 million unsecured debut private placement for Northumberland Estates. Through various trusts and companies, the Duke of Northumberland owns a very diverse commercial and residential property portfolio, including Alnwick Castle, as well as a house builder and many acres of forests (including a sawmill), livestock and prime arable farmland, acquired over some 1,000 years.

The transaction was put in place to refinance a number of smaller non-recourse, secured short term bank facilities on an unsecured basis and for a significantly longer term, in keeping with the Estate’s objectives. The transaction was split across two borrowers and a number of maturities ranging between 20 – 43 years to suit both the Estate and the US and UK based insurance companies that bought the notes.

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