15th Jul 2005 10:07
Kesa Electricals plc15 July 2005 15 July 2005 KESA Electricals reduces borrowing margins with new bank facility KESA Electricals plc, is pleased to announce that it has signed a new committed• 800 million five year revolving credit facility. This new facility replaces the existing €1,000 million term and revolvingfacility taken out at the time of demerger from Kingfisher plc in July 2003. The facility comprises an eight-bank grouping, consisting of BNP Paribas,Calyon, HSBC and Royal Bank of Scotland plc as Bookrunners and Mandated LeadArrangers (HSBC will also act as Facility and Documentation Agent), BarclaysCapital (the investment banking division of Barclays Bank PLC), JPMorgan andNatexis Banques Populaires as Mandated Lead Arrangers and ING as Co-arranger. Simon Herrick, Finance Director of Kesa Electricals plc, said: "This facility materially reduces our cost of borrowing, enhances the maturityprofile of the Group's debt, and provides greater flexibility for the longerterm funding of the Group." - Ends - Enquiries: AnalystsSimon Ward +44 (0) 20 7269 1400 MediaAnnabel Donaldson +44 (0) 20 7269 1400 Editors' notes: KESA Electricals is a specialist electrical retailer. It employs more than28,000 people and trades in 8 countries and has an ongoing turnover ofapproximately £4 billion. KESA Electricals is a member of the FTSE 250. Itsordinary shares are listed with the UK Listing Authority and trade on the marketfor listed securities on the London Stock Exchange under the symbol KESA.L. Itis also listed on the Premier Marche of the Paris Stock Exchange. For furtherinformation, visit Kesa's website at www.kesaelectricals.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DRTY.L