Business
Financing of Neo Portfolio Completed
Financing of Neo Portfolio Completed.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6655U CLS Holdings PLC 04 December 2013 \n\n \nRelease date: 4 December 2013\nEmbargoed until: Immediate Release\n \n \nCLS Holdings plc \n(\"CLS\", the \"Company\" or the \"Group\")\nFinancing of Neo Portfolio Completed\n \n \nCLS Holdings plc announces that a wholly-owned subsidiary of the Company has completed the debt financing of the Group's recent acquisition of the Neo portfolio, and one additional government-occupied property, through an institutional private placement with a single UK institution. The £80 million, secured, 9-year, partially-amortising note will carry a fixed coupon of 4.171% over a weighted average term of 7 years, and will be listed.\n \nSten Mortstedt, Executive Chairman of CLS, commented:\n \n\"This is an innovative, flexible funding solution which adds further diversity and duration to the Group's debt profile. It is tailored to our aspirations for this portfolio, which is 99% government-occupied, and on which we are already driving some positive asset management initiatives.\"\n \n-ends-\n \nFor further information, please contact:\n \nCLS Holdings plc +44 (0)20 7582 7766\nwww.clsholdings.com\nSten Mortstedt, Executive Chairman\nHenry Klotz, Executive Vice Chairman\nRichard Tice, Chief Executive Officer\n \nLiberum Capital Limited +44 (0)20 3100 2222\nTom Fyson\n \nCharles Stanley Securities &...