Business
Securitisation Programme and Corporate Broker
Securitisation Programme and Corporate Broker.
About this update from Premier Foods Plc
[{"type":"text","content":"\n \nRNS Number : 0316W Premier Foods plc 19 December 2013 \n \n\n \n19 December 2013\n \n \nPremier Foods Announces Improved Securitisation Programme and \nJoint Corporate Broker Appointment\n\nPremier Foods plc (\"the Company\") has today completed the re-financing of its current 'Receivables Securitisation Agreement' which expires in March 2014. The size of the programme has been increased from £100m to £120m, the interest margin reduced and the tenor extended to the end of September 2015 with an ability to extend further to the end of December 2016. The new agreement provides the Company with more cost effective financing and increased levels of funding and is an important step in developing a long term and sustainable capital structure.\n \nSeparately, the Company has concluded a review of the structure of its corporate broking arrangements. During this review, the Company and Citigroup reached a mutual and amicable decision that Citigroup would step down as brokers to the Company. Consequently, the Company has appointed Jefferies Hoare Govett as joint corporate broker alongside the existing joint broker Credit Suisse.\n \nFor further information please contact:\n \n\n\n\n\nRichard Godden, Head of Investor Relations\n\n\n+44 (0) 1727 815 850\n\n\n\n\nRichard Johnson, Group Corporate Affairs Director\n\n\n+44 (0) 1727 815 850\n\n\n\n\n\n\n\n\n\n\n\n\nMaitland\n\n\n\n\n\n\n\nLiz Morley/Tom Eckersley \n\n\n+44 (0) 20 7379 5151\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCNKCDBABDDFBD\n ","length":3379,"tagName":"div"}]