Slaughter and May advised Derwent London plc on its new £100mn RCF

Slaughter and May advised Derwent London plc (“Derwent”) on its new £100mn unsecured revolving credit facility (“RCF”) with Handelsbanken plc, a new lender to Derwent. The RCF has an initial five-year term with two one-year extension options and a £50mn accordion option, each subject to lender consent. The margin and financial covenants are in line with those of the Group’s existing bank facilities.

Damian Wisniewski, Chief Financial Officer of Derwent, said: “Handelsbanken is a new lending relationship for Derwent London and I am delighted that we have agreed this facility on terms consistent with those of our existing relationship banks. This reflects the strength of the Group's business model, strategy and balance sheet, as well as the continued support of the banking market for our business.”

Derwent owns a commercial real estate portfolio of approximately 5.3mn square feet, predominantly in central London, valued at £5.1bn as at 31 December 2025, making it the largest London office-focused real estate investment trust (REIT).