Fuller, Smith & Turner PLC: New GBP200 million Banking Facilities (1365547)
01 June 2022 - 4:01PM
UK Regulatory
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
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