5th Oct 2007 08:25
Quintain Estates & Development PLC05 October 2007 5 October 2007 Quintain Estates and Development PLC ("Quintain" / "Company") QUINTAIN AGREES NEW £150M CORPORATE BANKING FACILITY Quintain announces the successful signing of a new £150 million corporatebanking facility with Bank of Scotland Corporate. The cash raised will be used both to fund further investment into urbanregeneration projects and to strengthen Quintain's existing financialflexibility to exploit opportunities arising from current market conditions. The loan is a revolving facility with a two year maturity. All other terms andconditions are in line with the Company's existing corporate loans. Rebecca Worthington, Quintain's Finance Director, commented: "Our diverse business model and the potential inherent within our major SpecialProjects and Fund Management businesses means that we are strongly positioned tocontinue our track record of creating shareholder value. "Financing has an important role to play and the new facility will provideadditional funding flexibility for our urban regeneration projects such asWembley and Greenwich and enable us to seize emerging opportunities." For further information, please contact: Quintain Financial DynamicsRebecca Worthington Stephanie Highett/Dido LaurimoreTel: 020 7495 8968 Tel: 020 7831 3113 Notes to Editors - Quintain Estates and Development PLC is a leading property investment and development company, listed on the London Stock Exchange. Quintain has three areas of focus: Fund Management; Investment Portfolio; andSpecial Projects, which consists of the Company's larger and typically complexassets - such as Wembley - that gain returns from planning and developmentopportunities. - Quintain's existing corporate facilities have a floating charge, a 0.95% margin and commitment fees of 0.375%. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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