Shaftesbury PLC Cancellation of interest rate swaps (6163M)

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RNS Number : 6163M

Shaftesbury PLC

14 October 2016

Shaftesbury PLC

Cancellation of interest rate swaps

Shaftesbury PLC announces that, today, it has cancelled interest rate swaps with a notional principal of GBP55 million at a cost of GBP34.1 million, GBP3.9 million less than the mark to market valuation at 30 September 2016. The termination cost is equivalent to a reduction in EPRA NAV of 12 pence per share. This transaction reduces our blended cost of debt by c 40 basis points. Together with our recent successful GBP285 million bond issue, which reduced our cost of debt by c. 25 basis points, the overall reduction in our blended cost of debt from this recent financing activity is c. 65 basis points.

14 October 2016

For further information:

 
 Shaftesbury PLC 020 7333         Capital Access Group 020 
  8118                             3763 3400 
 Brian Bickell, Chief Executive   Simon Courtenay 
  Chris Ward, Finance Director 
 

Forward-looking statements

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Any forward-looking statements made by, or on behalf of, Shaftesbury PLC speak only as of the date they are made and no representation or warranty is given in relation to them, including as to their completeness or accuracy or the basis on which they were prepared. Shaftesbury PLC does not undertake to update forward-looking statements to reflect any changes in its expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

Information contained in this document relating to Shaftesbury PLC or its share price, or the yield on its shares, should not be relied upon as an indicator of future performance.

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October 14, 2016 10:38 ET (14:38 GMT)