Ogier has assisted long standing client intu properties plc with matters of Jersey law relating to the £488 million refinancing of the major West Midlands Merry Hill Shopping Centre.
The refinancing follows intu’s acquisition of remaining 50% holding in Merry Hill last year, having purchased an initial 50% stake shopping centres in Sprucefield in Northern Ireland and Derby from Westfield in 2014. The refinancing was led by lead counsel Linklaters and involved four lenders including Wells Fargo and BNP Paribas.
intu is UK’s leading shopping centre owner, developer and manager, and Merry Hill Shopping Centre, is the UK's seventh-largest shopping centre, located 10 miles west of Birmingham with an annual footfall of 22 million. It already has interests in multiple shopping centres throughout the UK, including intu Trafford Centre, intu Lakeside and a majority stake in intu Metrocentre.
Ogier partner Raulin Amy led the Ogier team advising on the Jersey law aspects of the refinancing. He said: "We have a longstanding relationship with intu and we are very pleased to have assisted them once again."
The Ogier team included Managing Associate Michael Evans and Associate Michael Robinson.