AI assistant
FULLER,SMITH & TURNER PLC Capital/Financing Update 2022
5193_rns_2022-06-01_b30b1bab-4fa2-4c3e-83e0-33f966e9ddc9.html
Capital/Financing Update
Open in viewerOpens in your device viewer
National Storage Mechanism | Additional information
Fuller, Smith & Turner PLC (FSTA)
Fuller, Smith & Turner PLC: New £200 million Banking Facilities
01-Jun-2022 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
STRICTLY EMBARGOED
UNTIL 7AM WEDNESDAY 1 JUNE 2022
FULLER, SMITH & TURNER P.L.C.
(“Fuller’s”, the “Company”, or the “Group”)
New £200 million Banking Facilities
Fuller’s, the premium pubs and hotels business, today announces that it has successfully completed the refinancing of its Group debt facilities of £192 million, which were due to mature in February 2023. The new debt facilities consist of a £90 million term loan and a £110 million Revolving Credit Facility provided by a syndicate of seven banks.
The new facilities have an initial maturity date of 31 May 2026 with an option to extend by a further year. The facilities are unsecured, and the borrowing cost of the facilities is determined by the level of Company leverage. The initial borrowing cost is 285 basis points over SONIA, which is a significant improvement to the cost of the existing debt facilities.
The new facilities are £119 million drawn, leaving £81 million of undrawn facilities available to support the future growth of the business.
The Company will provide a comprehensive trading and strategy update at its Full Year results announcement for the year ended 26 March 2022 on 9 June 2022.
-Ends-
For further information, please contact:
| Fuller, Smith & Turner P.L.C. | |
| Simon Emeny, Chief Executive | 020 8996 2000 |
| Neil Smith, Finance Director | 020 8996 2000 |
| Georgina Wald, Corporate Comms Manager | 020 8996 2198 |
| Instinctif Partners | |
| Justine Warren | 020 7457 2010 |
| ISIN: | GB00B1YPC344 |
| Category Code: | MSCH |
| TIDM: | FSTA |
| LEI Code: | 213800C7ACOFMRCQQW76 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 165314 |
| EQS News ID: | 1365547 |
| End of Announcement | EQS News Service |