22nd Jan 2008 07:30
Cobham PLC22 January 2008 Ref: #23322 January 2008 COBHAM SIGNS US$700 MILLION ACQUISITION FINANCING FACILITY Cobham plc ('Cobham') is pleased to announce that it has concluded a US$700million acquisition financing facility through to 30 June 2009. The newfacility, together with existing cash resources, provides capacity to fund therecent acquisitions of SPARTA Inc, Sensors and Antenna Systems, Lansdale andS-TEC Corporation and leaves a further US$800 million of available fundingcapacity for future acquisitions. The facility has been provided by Barclays Capital, BNP Paribas, DresdnerKleinwort and Royal Bank of Scotland. The overall cost of this new facility isin line with the average cost of Cobham's existing borrowing arrangements. Warren Tucker, Cobham Chief Financial Officer, said:"I am pleased that we have been able to secure an increase in our borrowingfacilities at attractive rates. Acquisitions are an important part of Cobham'sstrategy and we have an active acquisition pipeline, a robust balance sheet anda further US$800 million of available finance which positions us well to takeadvantage of growth opportunities, which meet our strict acquisition criteria,in addition to those already announced." - ends - ENQUIRIES Cobham plcAllan Cook, Chief Executive +44 (0)1202 882020Warren Tucker, Chief Financial Officer +44 (0)1202 882020Julian Wais, Director of Investor Relations +44 (0)1202 857998 Weber Shandwick FinancialSusan Ellis/James White +44 (0)20 7067 0700 NOTES Cobham plc is an international company engaged in the development, delivery andsupport of advanced aerospace and defence systems for land, sea and airplatforms. The Company specialises in the provision of components, sub-systemsand services that keep people safe, improve communications and enhance theperformance of aerospace and defence platforms. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Cobham