Henderson Global Investors has secured a £70 mln (EUR 79 mln) refinancing from BayernLB for the St James shopping centre in Edinburgh, Scotland. The shopping centre is part of Henderson's flagship £617 mln UK Shopping Centre Fund.

The new term loan was fully underwritten by BayernLB and will be used to repay existing loan facilities.

Adrian Heft, treasurer for Property at Henderson, said: 'This refinancing demonstrates Henderson's strong credit profile, and reflects the external confidence in the Shopping Centre Fund which is one of Henderson's trophy products with assets including Bullring in Birmingham, Buchannan Galleries in Glasgow and the St James Quarter in Edinburgh.'

Mike Worley of BayernLB's London branch added that 'the underwriting is a further demonstration of both the company's capabilities and commitment to the UK real estate market'.