HELICAL PLC — Capital/Financing Update 2013

Jun 7, 2013

National Storage Mechanism | Additional information

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RNS Number : 5674G

Helical Bar PLC

07 June 2013

7 June 2013

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

Helical signs £75m Revolving Credit Facility with Barclays Bank PLC

Helical Bar plc has signed a new £75m Revolving Credit Facility with Barclays Bank PLC ("Barclays"), refinancing £49.3m of existing debt, leaving £25.7m available to fund future acquisitions.

Assets included in the facility include offices at Shepherd's Building, London W14 and Broadway House, London W6 and a shopping centre at The Guineas, Newmarket.

The terms of this facility, repayable in October 2017, allow drawdowns of up to 63% of value.  The new facility benefits from existing interest rate swaps contributing to an effective interest rate, including margin, of circa 4.4% at the current utilisation level.

Commenting, Tim Murphy, Helical Bar's Finance Director, said:

"The signing of this new facility with Barclays rationalises three facilities and extends our average debt maturity. We now have £175m of revolving credit facilities with circa £34m unutilised and available to fund acquisitions that offer the potential to create income and capital growth."

Steve Sprigens, Director, Barclays Real Estate, said:

"Helical is a well established client of Barclays and we are delighted to be able to support them with their future growth plans. Our in-depth understanding of the business enabled us to deliver a financing solution to meet their needs which will allow Helical to fund future acquisitions."

For further information, please contact:

Helical Bar plc

Mike Slade / Tim Murphy                                                                             020 7629 0113

FTI Consulting

Dido Laurimore / Stephanie Highett                                                       020 7831 3113

This information is provided by RNS

The company news service from the London Stock Exchange

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