Shaftesbury PLC Cancellation of interest rate swaps (6163M)
15 October 2016 - 1:38AM
UK Regulatory
TIDMSHB
RNS Number : 6163M
Shaftesbury PLC
14 October 2016
Shaftesbury PLC
Cancellation of interest rate swaps
Shaftesbury PLC announces that, today, it has cancelled interest
rate swaps with a notional principal of GBP55 million at a cost of
GBP34.1 million, GBP3.9 million less than the mark to market
valuation at 30 September 2016. The termination cost is equivalent
to a reduction in EPRA NAV of 12 pence per share. This transaction
reduces our blended cost of debt by c 40 basis points. Together
with our recent successful GBP285 million bond issue, which reduced
our cost of debt by c. 25 basis points, the overall reduction in
our blended cost of debt from this recent financing activity is c.
65 basis points.
14 October 2016
For further information:
Shaftesbury PLC 020 7333 Capital Access Group 020
8118 3763 3400
Brian Bickell, Chief Executive Simon Courtenay
Chris Ward, Finance Director
Forward-looking statements
This document may contain certain 'forward-looking' statements.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances.
Actual outcomes and results may differ materially from any outcomes
or results expressed or implied by such forward-looking
statements.
Any forward-looking statements made by, or on behalf of,
Shaftesbury PLC speak only as of the date they are made and no
representation or warranty is given in relation to them, including
as to their completeness or accuracy or the basis on which they
were prepared. Shaftesbury PLC does not undertake to update
forward-looking statements to reflect any changes in its
expectations with regard thereto or any changes in events,
conditions or circumstances on which any such statement is
based.
Information contained in this document relating to Shaftesbury
PLC or its share price, or the yield on its shares, should not be
relied upon as an indicator of future performance.
Ends
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