Prudential Mortgage Capital Company, which does business in the UK and Europe as Pricoa Mortgage Capital, is the commercial mortgage lending business of US-based Prudential Financial.
The 10-year, fixed-rate loan is secured by the 340,000 square-foot, 26-storey prime tower building in the City of London and was completed over the summer. The property is 100% let to tenants from the legal, financial services and professional services sectors.
"99 Bishopsgate is a recognisable feature of London's skyline and one of the city's most iconic buildings, popular with both local and international occupiers. Being a long-term holder of our own debt, Prudential Mortgage Capital Company was able to offer a structure that matched the client's asset management requirements whilst locking in long-term interest rates," said Aaron Knight, director of European originations at Prudential Mortgage Capital Company.
HSBC's City headquarters used to be at 99 Bishopsgate, which was heavily damaged by a terrorist bomb in 1993.
This latest loan by Prudential Mortgage Capital Company follows the £270m Watermark Place, £155m Access Self Storage and £130m GCP Student Living loans completed over the summer (IAR, 8 October, US Prudential arm lends for UK student housing).
The company reiterated its view that the appetite for long-term, fixed-rate senior debt is increasing among borrowers in Europe.
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