Business
New increased bank facilities
New increased bank facilities.
About this update from Safestore Holdings Plc
[{"type":"text","content":"\n RNS Number : 0564I Safestore Holdings plc 04 March 2010 \n \n\n \n \n \nFOR IMMEDIATE RELEASE\n 4 March 2010\n \n \nSafestore Holdings plc\nNew increased bank facilities to 2013\n \nSafestore Holdings plc (\"Safestore\" or \"the Group\"), the largest self storage retailer in the UK and Paris, is pleased to announce that it has entered into a new increased bank facilities agreement to August 2013 to replace its existing facilities for the United Kingdom and for France which were due to expire in July 2011. These new facilities will allow the company to continue with its stated growth plans of acquiring purpose built stores in high priority locations and replacing older first generation stores with modern self storage centres in prime trading locations.\n \nThe principal terms of the refinanced bank agreement include:\n \n· Increased group facility of £350 million and €40 million to replace the previous facilities of £302 million and €60 million\n· Royal Bank of Scotland plc and HSBC Bank plc acted as Coordinating Mandated Lead Arrangers and Bookrunners \n· The syndicate comprises seven members; four existing relationship lenders: Royal Bank of Scotland; HSBC; Bank of Ireland; Nationwide Building Society and three new syndicate members, Lloyds Banking Group, Santander and BRED Banque Populaire \n· At drawdown, the new facilities will provide £69 million headroom for investment\n· Principal repayment ...