Banking Arrangements (1457A)
26 Janeiro 2011 - 2:36PM
UK Regulatory
TIDMOTE
RNS Number : 1457A
O Twelve Estates Limited
26 January 2011
O Twelve Estates Limited ("O Twelve" or the "Company")
Banking Arrangements
26 January 2011
Following the completion of the Placing and Open Offer, the new
terms of the Group's loan facilities have come into effect on the
repayment of GBP19 million of principal of the Company's
outstanding loans, which have reduced to GBP124.8 million, the
deposit of GBP6.5 million into a cash collateral account and the
payment of an arrangement fee, as described in the prospectus dated
14 December 2010 (the "Prospectus"). New hedging arrangements have
been put in place so that from today the Group's fixed rate tranche
of its loans are at 5.155% per annum, excluding margin, on GBP115
million until January 2015 and on GBP63 million from January 2015
until the new maturity date in December 2016.
All capitalised definitions in this announcement bear the same
meaning as those in the Prospectus.
For further information please contact:
O Twelve Estates Limited
Phil Rhodes, Chairman
+44 (0)207 016 0050
Rugby Asset Management
David Tye
Andrew Wilson
+44 (0) 20 7016 0050
Fairfax I.S. PLC
Simon Bennett
Laura Littley
+44 (0) 20 7598 5368
Financial Dynamics
Stephanie Highett
Dido Laurimore
Will Henderson
+44 (0) 20 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
END
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