Business
Completion of Refinancing
Completion of Refinancing.
About this update from Harbour Energy Plc
[{"type":"text","content":"\n Holidaybreak PLC\n09 May 2008\n\n\n9 May 2008: For immediate release\n\n\n HOLIDAYBREAK PLC\n\n Completion of refinancing\n\nHolidaybreak, the European specialist holiday and educational activity group,\ntoday announces that it has completed the refinancing of the Group's debt\nfacilities. The refinancing package consists of a £275m committed five-year\nfacility at an initial margin of 130 basis points over LIBOR, with a syndicate\nof six banks led by Barclays and RBS. This replaces the Group's previous\nfacilities, which totalled £255m. Following the successful acquisition of PGL\nand NST in 2007, the group's pro-forma average net debt last year was\napproximately £162 million.\n\n\nCarl Michel, Holidaybreak CEO said:\n\n\"We are delighted that we have been able to arrange this refinancing package on\ngood terms, especially given current debt market conditions. We appreciate the\nsupport that Barclays and RBS, together with the other banks, continue to offer\nto the Group.\n\nThis refinancing package will provide the Group with the flexibility to build on\nthe successes of recent years. The Group remains prudently financed and will\ncontinue to be able to consider further acquisitions if and when appropriate.\"\n\n\nEnquiries:\n\nHolidaybreak: +44 (0) 1606 787100\nCarl Michel / Bob Baddeley\n\nBrunswick +44 (0) 20 7404 5959\nCraig Breheny / Oliver Hughes\n\n\n\nNote to Editors\n\nHolidaybreak (HBR.L) is listed on the London Stock Exchange. Holidaybreak has\nfour operating divisions: Hotel Breaks, Education, Adventure Travel and Camping.\nEach is a market leader in its respective specialist sector of the European\nholiday and educational activity industry, has multi-channel distribution and is\nrecognised for providing high standards of product and service quality. For more\ninformation, please go to www.holidaybreak.co.uk.\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n ","length":2094,"tagName":"div"}]