Non-recourse to British Land

Our joint ventures and funds are each financed and interest rate managed separately, and without recourse to British Land for repayment. The debt has been arranged through securitisations or bank debt specifically according to the requirements of the business of each venture.

As at {NUM|Current Date}, our share of the total debt of our joint ventures and funds was £{NUM|DBTFROMJVS} billion of which £{NUM|SECDBT} billion was accounted for by securitisations and the balance by bank debt.

Those debt arrangements which include loan to value ratio covenants have maximum levels ranging from 40% to 65%. Several have rental income to interest or debt service cover requirements. There is no obligation on British Land to remedy any of these covenants and any remedy would be considered by the parties on a case by case basis.

color Funds - Bank undrawn Funds - Bank drawn JVs - Bank drawn JVs - Securitisations y
  0.000 0 0.000 52.491 2017
  0.000 0 92.500 56.092 2018
  0.000 0 0.000 58.506 2019
  71.554 116.746 52.724 59.423 2020
  43.686 219.934 0.000 53.481 2021
  0.000 0 0.000 55.031 2022
  0.000 0 0.000 58.978 2023
  0.000 0 0.000 59.964 2024
  0.000 0 0.000 69.940 2025
  0.000 0 0.000 145.237 2026
  0.000 0 0.000 53.199 2027
  0.000 0 0.000 54.128 2028
  0.000 0 0.000 54.736 2029
  0.000 0 0.000 84.110 2030
  0.000 0 0.000 86.758 2031
  0.000 0 0.000 179.075 2032
  0.000 0 0.000 69.875 2033
  0.000 0 0.000 268.442 2034
  0.000 0 0.000 13.617 2035
  0.000 0 0.000 0.000 2036
  0.000 0 0.000 0.000 2037
Open all