19th Dec 2023 19:44
Barkby Group PLC - Abingdon, England-based investor in roadside property and in consumer and life sciences companies - Updates on intention to refinance its existing debt facilities. Reports several constructive discussions with prospective investors in relation to its proposed private debt offering. Currently envisages that the current facilities will be refinanced via a private debt instrument, issued at a coupon of 14% for a period of 24 months. This instrument would be secured against the company's wholly owned real estate assets and its 75% shareholding in Cambridge Sleep Sciences. The terms of the debt may also bestow the right upon holders to participate in an exit option of the company's CSS shareholding under preferential terms, or to benefit from a profit share agreement. Final terms remain subject to negotiation.
Current stock price: 5.98 pence
12-month change: down 30%
By Jeremy Cutler, Alliance News reporter
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