We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Great Portland Estates Plc | LSE:GPOR | London | Ordinary Share | GB00BF5H9P87 | ORD 15 5/19P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 735.50 | 739.50 | 740.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGPOR
RNS Number : 8160D
Great Portland Estates PLC
12 October 2018
GPE signs GBP450 million Revolving Credit Facility
12 October 2018
Great Portland Estates plc ("GPE" or the "Group") announces that it has signed a GBP450 million unsecured revolving credit facility ("RCF") at a headline margin of 92.5 basis points over LIBOR with a group of six existing relationship banks. The facility has an initial five-year term which may be extended to a maximum of seven years at GPE's request, subject to bank consent.
This facility includes GPE's standard unsecured financial covenants and is an amendment and extension of the Group's GBP450 million RCF signed in October 2014 at a headline margin of 105 basis points which was due to mature in October 2021.
Following this transaction and the recent redemption for cash of the Group's GBP150 million convertible bond, GPE has no Group level debt maturities until the initial expiry of this amended facility in October 2023.
The participating banks are NatWest, Santander Corporate & Investment Banking, Wells Fargo, Lloyds Bank plc, Crédit Agricole CIB and Bank of China.
Martin Leighton, Director of Corporate Finance commented, "We are very pleased to have arranged this flexible and competitively priced facility with our relationship banks, which reflects their continuing support for our focused business model and conservative capital structure. This transaction combined with our other proactive refinancing activities over the last 18 months have further reduced the cost and extended the term of our predominantly unsecured debt facilities."
Contacts:
Great Portland Estates plc Nick Sanderson, Finance Director +44 (0) 20 7647 3034 Martin Leighton, Director of Corporate Finance +44 (0) 20 7647 3056 Finsbury Group Gordon Simpson +44 (0) 20 7251 3801 James Murgatroyd +44 (0) 20 7251 3801
For further information on GPE see www.gpe.co.uk or follow us on Twitter at @GPE_plc
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 rns@lseg.com or visit www.rns.com.
END
MSCEAKEFFDSPFFF
(END) Dow Jones Newswires
October 12, 2018 02:00 ET (06:00 GMT)
1 Year Great Portland Estates Chart |
1 Month Great Portland Estates Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions