Overview

Industrial and Commercial Bank of China lends GBP 40 million to UNINN to refinance various student accommodation properties

Commitments (Constant USD, 2023)$52,785,900

Commitment Year•2019Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 4, 2019

Geospatial footprint

Map overview

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This project lends to UNINN to refinance various student accommodation properties, with one residency being located at 8 Parkside, Coventry CV1 2PQ, United Kingdom. More detailed locational information can be found at https://www.openstreetmap.org/way/1220125667.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

UNINN Regent Street Holding Ltd.

Loan desecription

Industrial and Commercial Bank of China lends GBP 40 million to UNINN to refinance various student accommodation properties

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 4, 2019, the Industrial and Commercial Bank of China (ICBC) lent GBP 40 million to UNINN, a student accommodation provider, to refinance various properties comprising 640 beds across Newcastle, Sheffield, Leicester and Coventry. Other details about the loan are unknown. RM Funds, a credit asset manager, organized the financing. UNINN employed various subsidiaries and estates as Chargors (borrowers). The borrowing syndicate was comprised of the following entities: UNINN Senior, UNINN Group, Trust Estates (Holdings), Trust Estates (Clarence Street), Trust Estates (Russell Terrace), Beechfield Estates, UNINN Merlin Point, UNINN Leicester, UNINN Arts Tower Holdings, and Torsion (Bailey St).