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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Civitas Social Housing Plc | LSE:CSH | London | Ordinary Share | GB00BD8HBD32 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 79.80 | 79.70 | 80.20 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCSH
RNS Number : 8584W
Civitas Social Housing PLC
17 November 2017
17 November 2017
CIVITAS SOCIAL HOUSING PLC
("Civitas" or the "Company")
GBP40m 3-Year Revolving Loan Facility from Lloyds Bank plc
The Board of Civitas Social Housing PLC is pleased to announce that the Company has secured a 3-year floating rate revolving loan facility of up to GBP40m from Lloyds Bank plc (the 'Facility') based upon a margin over three month LIBOR.
The Facility, arranged by Lloyds Bank Commercial Banking, is repayable 3 years from the date of signing, with a 12-month extension option. It is secured against a ring-fenced portfolio of the Company's properties. The Facility is the second tranche of a planned debt funding programme, following the GBP52.5m fixed rate term loan facility from Scottish Widows Limited announced on 3(rd) November 2017. Rothschild & Co advised on both financings.
The Facility offers increased capital flexibility for the Company while assembling its portfolio, alongside the primary use of long-term debt. The Company anticipates announcing the provision of certain additional long-term fixed rate loan facilities in due course, in line with its stated intention to secure long-term debt funding.
Michael Wrobel, Chairman of Civitas, commented: "We are delighted to have secured this loan facility from Lloyds Bank, which offers Civitas additional capital flexibility over the coming years, over and above the GBP302m recently raised in the Company's C share issue. The availability of the Facility continues to demonstrate the high quality of the Company's assets."
Michael Thompson, of Lloyds Bank Commercial Real Estate, added: "Following on the back of the recent long term financing, we are pleased to continue our support of Civitas through the provision of this key facility. This will help provide the management team with the flexibility in financing future acquisitions and assist further growth aspirations."
For further information, please contact:
Civitas Housing Advisors Limited
Paul Bridge Tel: +44 (0)20 3709 4622 Andrew Dawber Tel: +44 (0)20 3709 4626
Cenkos Securities PLC
Sapna Shah Tel: +44 (0)20 7397 1922 Tom Scrivens Tel: +44 (0)20 7397 1915
Pagefield
Philip Dennis Tel: +44 (0)7947 868206 David Leslie Tel: +44 (0)7584 070274
Notes:
Civitas Social Housing PLC is the first Real Estate Investment Trust offering pure play exposure to social housing in England and Wales. The Company is managed by Civitas Housing Advisors Limited. The Company is listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in November 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFFIFEWFWSEDF
(END) Dow Jones Newswires
November 17, 2017 07:36 ET (12:36 GMT)
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