Business
New ?75m Revolving Credit Facility
New ?75m Revolving Credit Facility.
About this update from Helical Plc
[{"type":"text","content":"\n \nRNS Number : 5674G Helical Bar PLC 07 June 2013 \n \n\n7 June 2013\nHelical Bar plc (\"Helical\" or the \"Company\")\n \nHelical signs £75m Revolving Credit Facility with Barclays Bank PLC\n \nHelical Bar plc has signed a new £75m Revolving Credit Facility with Barclays Bank PLC (\"Barclays\"), refinancing £49.3m of existing debt, leaving £25.7m available to fund future acquisitions.\n \nAssets included in the facility include offices at Shepherd's Building, London W14 and Broadway House, London W6 and a shopping centre at The Guineas, Newmarket.\n \nThe terms of this facility, repayable in October 2017, allow drawdowns of up to 63% of value. The new facility benefits from existing interest rate swaps contributing to an effective interest rate, including margin, of circa 4.4% at the current utilisation level.\n \nCommenting, Tim Murphy, Helical Bar's Finance Director, said:\n \n\"The signing of this new facility with Barclays rationalises three facilities and extends our average debt maturity. We now have £175m of revolving credit facilities with circa £34m unutilised and available to fund acquisitions that offer the potential to create income and capital growth.\"\n \nSteve Sprigens, Director, Barclays Real Estate, said:\n\"Helical is a well established client of Barclays and we are delighted to be able to support them with their future growth plans. Our in-depth understanding of the business enabled us to deliver a financing solution to meet their needs which will allow Helical to fund future acquisitions.\"\n \nFor further information, please contact:\n \nHelical Bar plc\nMike Slade / Tim Murphy 020 7629 0113\n \nFTI Consulting\nDido Laurimore / Stephanie Highett  ...