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Urban Exposure plc (UEX)
Urban Exposure plc: Senior Term Facility with UBS Investment Bank
24-Dec-2018 / 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.
24 December 2018
Urban Exposure plc
Senior Term Facility with UBS Investment Bank
Urban Exposure plc (the "Company" or "Urban Exposure"), a specialist
residential development financier and asset manager, today announces a
Senior Term Facility with UBS Investment Bank. The loan-on-loan line will
provide gearing into a joint venture ("JV") the Company has with KKR, a
leading global investment firm.
The KKR JV, signed in July 2018 with an initial size of GBP165m, aims to
provide financing for development projects in the UK mainstream residential
property market. The UBS Senior Term Facility will facilitate up to an
additional GBP165m of lending, increasing the total lending capacity of the JV
of up to GBP330m.
UBS Investment Bank offers securities brokerage and investment banking
services to institutional and corporate clients, intermediaries,
governments, and hedge funds. The firm is based in London, with over 30
offices worldwide.
The joint venture is in line with Urban Exposure's strategy to grow its
Asset Management division following its admission to AIM on 9 May 2018 and
successful raise of GBP150 million.
Commenting, Randeesh Sandhu, Chief Executive of Urban Exposure said:
"We are pleased to have closed this Senior Term Facility, which is a
significant milestone in our strategy to grow our third-party Asset
Management division whilst also continuing to deploy our balance sheet
funds. The addition of the loan-on-loan line from UBS adds significant scale
to the KKR JV, meaning we can offer further support to SME developers as
they seek funding for mainstream housing projects across the UK."
Sundeep Lakhtaria, Partner at Urban Exposure said:
"The completion of this facility sees two global financial institutions
partnering with the Company and providing funding into our Asset Management
division. We are delighted to be working with institutions of this calibre,
which is testament to the exceptional sector expertise Urban Exposure has in
residential development finance, and to our prudent lending policies and
procedures."
Luke Partridge, Head of SSG EMEA at UBS said:
"We are pleased to be working with Urban Exposure and KKR to help the
partnership grow and expand in its long-term strategy. UBS's loan to the
joint venture demonstrates our ability to provide financing to specialist
lending markets, and is an example of our focus to deliver value to our
clients. We look forward to building upon this successful venture in the
future."
Enquiries:
Urban Exposure plc Tel: +44 (0) 845 643 2173
Randeesh Sandhu, CEO
Liberum Capital Limited (Nominated Tel: +44 (0) 20 3100 2000
Adviser and Sole Broker)
Neil Patel
Gillian Martin
Jonathan Wilkes-Green
Louis Davies
MHP Communications (Financial Public Tel: +44 (0) 20 3128 8540
Relations)
Barnaby Fry
Charlie Barker
Patrick Hanrahan
Sophia Samaras
Notes to Editors
Urban Exposure plc is a specialist residential development finance and asset
management company that has been formed to provide finance for UK real
estate development loans. The Company focuses on two main revenue streams:
interest and fees generated on principal lending from its own balance sheet;
and asset management income generated from managing and servicing real
estate development loans financed by third parties. For additional
information please visit Urban Exposure's website:
www.urbanexposureuk.com and on twitter @UrbanExposureuk
Linkedin: www.linkedin.com/company/urban-exposure/ [1] and
Facebook: www.facebook.com/UrbanExposureUK/ [2]
ISIN: GB00BFNSQ303
Category Code: UPD
TIDM: UEX
LEI Code: 213800Q7WLHGIHUFBT43
Sequence No.: 6989
EQS News ID: 761833
End of Announcement EQS News Service
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(END) Dow Jones Newswires
December 24, 2018 02:01 ET (07:01 GMT)
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