DJ Fuller, Smith & Turner PLC: New GBP200 million Banking Facilities
Fuller, Smith & Turner PLC (FSTA) Fuller, Smith & Turner PLC: New GBP200 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.
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STRICTLY EMBARGOED
UNTIL 7AM WEDNESDAY 1 JUNE 2022
FULLER, SMITH & TURNER P.L.C.
("Fuller's", the "Company", or the "Group")
New GBP200 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 GBP192 million, which were due to mature in February 2023. The new debt facilities consist of a GBP90 million term loan and a GBP110 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 GBP119 million drawn, leaving GBP81 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
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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 =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1365547&application_name=news
(END) Dow Jones Newswires
June 01, 2022 02:01 ET (06:01 GMT)
