B3 Living enters into note purchase agreement with M&G Investment

By Toni Weeks

San Luis Obispo, Calif., Feb. 27 – B3 Living Ltd. entered into a note purchase agreement on Feb. 26 with M&G Investment Management Ltd., according to a company notice with the London Stock Exchange.

The proceeds of the private placement will be used to refinance some of the company’s existing bank debt.

The new notes will be secured on some of B3 Living’s properties, excluding any properties that are currently charged in connection with the company’s existing £68 million of 4.823% bonds due Jan. 29, 2038.

B3 is a social housing provider based in Hoddesdon, England.

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