8th Jul 2015 11:00
Market Tech Holdings Limited
("Market Tech", "the Company" or "the Group")
Debt financing update
Market Tech Holdings Limited (MKT: AIM), the holding company that combines 14 acres of London real estate assets, including the iconic main Camden Markets, with a technology and e-commerce business, is pleased to announce that it has agreed headline terms, with third party debt providers, for a substantial debt package.
The proposed long term debt package will enable the Group to drive its growth and development plans with funding from debt providers who understand the Group's assets and want to work with the Group to realise the potential of what the Board believes is a unique portfolio of assets in Central London.
The proposed long term debt package would be in excess of the amount of the existing drawn senior debt facilities equating to circa £200 million, which would be repaid in full from the new facilities, allowing the Company the flexibility to continue to invest in its growth plan. The new debt package will include an overall lower debt financing cost including a significantly improved margin compared to the existing senior debt facilities and would be for an extended term of up to 10 years.
The Company will provide further updates on the financing in due course.
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Enquiries
Market Tech Charles Butler, Chief Executive Officer Andrew Bull, Chief Financial Officer c/o Bell Pottinger
| +44 (0) 20 3772 2500 |
Shore Capital - Nomad and Joint Broker Dru Danford Toby Gibbs
| +44 (0) 20 7408 4090 |
Canaccord Genuity Limited - Joint Broker Bruce Garrow Chris Connors Mark Whitmore
| +44 (0) 20 7523 8000 |
Bell Pottinger David Rydell Olly Scott David Bass James Newman
| +44 (0) 20 3772 2500 |
About Market Tech
Market Tech combines the iconic Camden Market real estate assets with an e-commerce business operated through online platforms camdenmarket.com and market.com. Its real estate assets business is focused on retail, leisure and entertainment. The Company owns approximately 14 acres of real estate assets in Camden, including the Stables Market; Union Street Market, (also known as Buck Street Market); Camden Lock Market; and Hawley Wharf, (also known as Camden Lock Village). It also owns separate real estate assets on Camden High Street; Kentish Town Road; properties on Jamestown Road, (including the Camden Wharf Building); The Interchange Building on Oval Road and Utopia Village in Primrose Hill.
In recent months the Company has acquired two e-commerce businesses, enhancing its online platform. These strategic acquisitions have included Stucco Media, an e-commerce marketing platform; and Glispa, a Berlin-based mobile marketing business.
www.market-tech.com
Related Shares:
MKT.L