Business
Debt facility restructuring
Debt facility restructuring.
About this update from Conygar Investment Company Plc
[{"type":"text","content":"\n\n \n \n 21 March 2025\nTHE CONYGAR INVESTMENT COMPANY PLC\nDebt facility restructuring \n \nThe Conygar Investment Company PLC (\"Conygar\"), the property investment and development group, announces the completion of its debt facility restructuring in connection with the development loan provided by Barclays Bank PLC (\"Barclays\") to a wholly owned subsidiary of the Company. The restructuring extends the final repayment date for the loan from 23 March 2025 to 23 December 2025. This will enable the further letting and stabilisation of Winfield Court, the student accommodation development at The Island Quarter site in Nottingham, provided as security for the loan.\nIn addition, the total facility amount will be reduced from £47.5 million to £46.6 million and the interest rate margin payable on the loan reduced from 3.25 per cent to 2.0 per cent to be offset by the inclusion of a £0.5 million exit fee.\nRobert Ware, Chief Executive of Conygar, commented:\n\"We are delighted to have extended the development loan facility with Barclays which will enable the further letting and better stabilisation of our student accommodation development for the 2025-2026 academic year.\n \nEnquiries:\nThe Conygar Investment Company PLC\nRobert Ware, David Baldwin: 020 7258 8670\nPanmure Liberum Limited (nominated adviser and broker)\nChris Clarke, Jamie Richards: 020 3100 2000\nTemple Bar Advisory (public relations)\nAlex Child-Villiers: 07795 425580\nSam Livingstone: 07769 655437 \n\n","length":2654,"tagName":"div"}]