HELICAL PLC

Capital/Financing Update • Dec 24, 2013

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RNS Number : 2846W

Helical Bar PLC

24 December 2013

24 December 2013

Helical Bar plc ("Helical" or "Helical Bar" or the "Company")

HELICAL BAR SECURES CIRCA £100 MILLION REFINANCING OF OFFICE AND RETAIL ASSETS WITH PBB DEUTSCHE PFANDBRIEFBANK

Helical Bar today announces that it has secured a new circa £100 million five year debt facility from pbb Deutsche Pfandbriefbank, refinancing £46 million of existing debt and boosting cash reserves by £29 million. The terms of the facility, repayable in February 2019, allows drawdowns of up to 65% of value and benefit from interest rate swaps contributing to an effective interest rate, including margin, of circa 4.5%.

The new facility has refinanced Helical's recent cash purchases of three London office buildings (Maple House, London EC1; Artillery Lane and New Loom House, both in London E1) together with its shopping centre and retail park in Corby Town Centre, originally acquired in 2011. The facility will also be used for working capital purposes to fund refurbishment works at Maple House and an extension to the shopping centre in Corby which will provide a new cinema, restaurants, a gym and a new car park, subject to planning.

Tim Murphy, Finance Director at Helical Bar plc, commented:

"Helical has a very long standing relationship with the team at pbb Deutsche Pfandbriefbank and is pleased to continue this relationship with agreement of this new five year facility which also provides funding for our planned activities at Corby Town Centre and Maple House, supporting our business plan of enhancing rental income through active asset management."

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For further information, please contact:

Helical Bar plc Tim Murphy	020 7629 0113
FTI Consulting Stephanie Highett / Dido Laurimore / Nina Legge	020 7831 3113

This information is provided by RNS

The company news service from the London Stock Exchange

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