ULSTER BANK AND TITANIC GROUP ANNOUNCE £92M FINANCING DEAL

ULSTER BANK AND TITANIC GROUP ANNOUNCE £92M FINANCING DEAL

5th August, 2013

preview-image

Ulster Bank is pleased to announce a renewal of bank facilities with the Titanic group of companies (“Titanic Group”) through to December 2016. Titanic Group includes the main development company, Titanic Quarter Limited. Ulster Bank has been Titanic Group's funding partner since 2007 when development of the huge 185 acre site commenced.

Over this time the principals at Titanic Quarter have delivered the ARC apartments, Gateway Office, Belfast Met, PRONI, Premier Inn hotel at Titanic Quarter, Titanic Film Studios and the Titanic Belfast visitor attraction.

Announcing the completion of the financing arrangements, Ellvena Graham, Head of Ulster Bank, Northern Ireland said:

"Ulster Bank is delighted to be able to extend our relationship with Titanic Group as lead funder to this major development project that is transforming a key part of Belfast. Titanic Quarter is now attracting global interest and we are very pleased to be a key strategic partner in its ongoing success."

Those sentiments were echoed by David Gavaghan, Chief Executive of Titanic Quarter Limited, who commented:

"We are delighted to have completed the renewal of our facilities with Ulster Bank to the end of 2016. This agreement provides the platform to develop further Titanic Quarter and we appreciate the consistent and strong support we have received from Ulster Bank over the past six years.