Arbuthnot Banking Group PLC New £25 million (Tier 2 qualifying) loan (8095A)

TIDMARBB

RNS Number : 8095A

Arbuthnot Banking Group PLC

03 June 2019

3 June 2019

ARBUTHNOT BANKING GROUP PLC

New loan facility of GBP25 million

Increase in Tier 2 Regulatory Capital

Arbuthnot Banking Group PLC ("ABG", "the Company" or "the Group") announces that it has today completed a private issue of a sub-ordinated loan (the "Loan") on a bilateral basis with Proventus Capital Partners a Swedish Debt Fund to raise GBP25,000,000 before fees and expenses.

The loan has been fully drawn and will be classified as Tier 2 for regulatory capital purposes. The proceeds will support the continuing long term growth of the Group and in particular the ongoing diversification of its wholly owned bank, Arbuthnot Latham & Co., Limited.

The Loan matures on 3 June 2029 but can be repaid by ABG after the fifth anniversary. Interest is payable on the loan at the rate of 7.75% plus LIBOR or its replacement benchmark rate.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014). Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

 
 Arbuthnot Banking Group plc              020 7012 2400 
 Sir Henry Angest, Chairman and Chief 
  Executive 
  Andrew Salmon, Group Chief Operating 
  Officer 
  James Cobb, Group Finance Director 
  Grant Thornton (Nominated Adviser 
   and NEX Exchange Corporate Adviser)     020 7383 5100 
 Colin Aaronson 
  Samantha Harrison 
  Niall McDonald 
  Numis Securities Ltd (Joint Broker)      020 7260 1000 
 Chris Wilkinson 
  Stephen Westgate 
  Shore Capital (Joint Broker)             020 7408 4090 
 Hugh Morgan 
  Daniel Bush 
  Maitland (Financial PR)                  020 7379 5151 
 Neil Bennett 
  Sam Cartwright 
  Jais Mehaji 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 03, 2019 11:35 ET (15:35 GMT)