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R.E.A. HOLDINGS PLC Capital/Financing Update 2021
4635_rns_2021-06-24_1adfbf03-b1fe-4605-a652-128a3a2ecab6.html
Capital/Financing Update
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National Storage Mechanism | Additional information
R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc: Statement re bank financing
24-Jun-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
R.E.A. Holdings plc ("REA" or the "company")
Statement re bank financing
REA is pleased to announce that discussions between its subsidiary, PT REA Kaltim Plantations ("REA Kaltim"), and the group's Indonesian bankers, PT Bank Mandiri (Persero) Tbk ("Mandiri") have been successfully concluded with an agreement that the Indonesian rupiah denominated loan and working capital facility currently provided by Mandiri to REA Kaltim will be replaced with two new loans and a new working capital facility, denominated in Indonesian rupiah. Completion of this agreement remains subject to satisfaction of a number of technical conditions and is expected to occur within a few weeks.
The outstanding principal amount of the existing Mandiri loan to REA Kaltim is Rp 868 billion ($60.4 million), repayable over five years, while the replacement loans will together amount to Rp 1,170 billion ($81.4 million), repayable over eight years. The working capital facility will be reduced from Rp 70 million ($4.9 million) to Rp 30 million ($2.1 million). Security for the new loans and working capital facility will be similar to that for the existing loan and working capital facility (and will include a continuing guarantee from REA). The interest rate on the new loans and working capital borrowings will be fixed on drawdown but should be no higher than the interest rate of 10 per cent per annum payable on the existing term loan and working capital borrowings.
Proposals for replacement of the existing Mandiri term loan to REA's subsidiary, PT Sasana Yudha Bhakti continue to advance through the bank's approval process.
Enquiries:
R.E.A Holdings plc
Tel: 020 7436 7877
| ISIN: | GB0002349065 |
| Category Code: | MSCH |
| TIDM: | RE. |
| LEI Code: | 213800YXL94R94RYG150 |
| Sequence No.: | 113201 |
| EQS News ID: | 1211378 |
| End of Announcement | EQS News Service |