Business
New £25 million (Tier 2 qualifying) loan
New £25 million (Tier 2 qualifying) loan.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 8095A Arbuthnot Banking Group PLC 03 June 2019 \n\n3 June 2019\n \nARBUTHNOT BANKING GROUP PLC\n \n \nNew loan facility of £25 million\nIncrease in Tier 2 Regulatory Capital\n \nArbuthnot 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 £25,000,000 before fees and expenses.\n \nThe 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.\n \nThe 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.\n \n \nThe 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.\n \nThe directors of the Company accept responsibility for the contents of this announcement.\n \nEnquiries:\n \n\n\n\n\nArbuthnot Banking Group plc\n\n\n020 7012 2400\n\n\n\n\nSir Henry Angest, Chairman and Chief Executive\nAndrew Salmon, Group Chief Operating Officer\nJames Cobb, Group Finance Director\n\n\n \n\n\n\n\n \nGrant Thornton (Nominated Adviser and NEX Exchange Corporate Adviser)\n\n\n \n020 7383 5100\n\n\n\n\nColin Aaronson\nSamantha Harrison\nNiall McDonald\n\n\n \n\n\n\n\n \nNumis Securities Ltd (Joint Broker)\n\n\n \n020 7260 1000\n\n\n\n\nChris Wilkinson\nStephen Westgate\n\n\n \n\n\n\n\n \nShore Capital (Joint Broker) \n\n\n \n020 7408 4090\n\n\n\n\nHugh Morgan\nDaniel Bush\n\n\n \n\n\n\n\n \nMaitland (Financial PR) \n\n\n \n020 7379 5151\n\n\n\n\nNeil Bennett\nSam Cartwright\nJais Mehaji\n\n\n \n\n\n\n\n \n\nThis information is provided by RNS, t...