Shaftesbury Capital Plc (formerly: Capital & Counties Properties Plc)

Capital/Financing Update • Nov 7, 2014

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RNS Number : 4112W

Capital & Counties Properties Plc

07 November 2014

7 November 2014

CAPITAL & COUNTIES PROPERTIES PLC ("Capco")

£150 million US Private Placement debt raised for Covent Garden

Capco announces that Capco Covent Garden Limited, the holding company for Capco's Covent Garden assets and a wholly owned subsidiary of Capco, has signed an agreement with five US institutional investors for a private placement of £150 million 10 and 12 year senior unsecured notes.

The issue consists of two tranches: £75 million 3.63% Senior Notes due 2024 and £75 million 3.68% Senior Notes due 2026. Closing and funding of the transaction will occur in December. The proceeds will be used to repay bank debt and for general corporate purposes.

The Royal Bank of Scotland plc acted as sole placement agent for the transaction.

Soumen Das, Finance Director of Capco, commented: "We are delighted with our debut US Private Placement issue. The transaction enhances the unsecured platform at Covent Garden which was established earlier this year, extending the debt maturity profile and the already strong liquidity position through a new source of long-term funding at attractive, fixed-rate coupons."

-ENDS-

Enquiries

Capital & Counties Properties PLC:

Sarah Hagan, Director of Communications                                 +44 (0)20 3214 9185

Michelle McGrath, Head of Investor Relations                             +44 (0)20 7297 6093

Public Relations:

UK: Hudson Sandler, Michael Sandler, Wendy Baker                  +44 (0)20 7796 4133

SA: Instinctif, Frederic Cornet                                                     +27 (0)11 447 3030

The Royal Bank of Scotland PLC:

Shawn Robinson, Managing Director                                               +1 203 897 2697

Notes to Editors

About Capital & Counties Properties PLC (Capco):

Capital & Counties Properties PLC is one of the largest investment and development property companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. Capco holds 3.7 million square feet of assets valued at £2.6 billion (as at 30 June 2014) in two landmark London estates: Covent Garden, which has assets valued at £1.3 billion including the historic Market Building, and Earls Court Properties including the Empress State Building together with the Venues business amounting to aggregate property assets of £1.2 billion. The company is listed on the London Stock Exchange and the Johannesburg Stock Exchange.

www.capitalandcounties.com

This information is provided by RNS

The company news service from the London Stock Exchange

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