6th Jan 2012 07:00
Shaftesbury PLC (the "Company")
Shaftesbury PLC, the specialist West End Real Estate Investment Trust, announces that Longmartin Properties Limited ("Longmartin"), its 50% joint venture with The Mercers' Company, has entered into a facility agreement with Aviva Commercial Finance Limited.
The facility of £120 million, which was fully drawn on completion, is for a term of 15 years, expiring on 21 December 2026, at a fixed rate of interest of 4.43%. The facility is secured against the assets of Longmartin and its subsidiaries.
Longmartin will remit the proceeds of the loan after expenses to its shareholders through the repayment of loans and share capital.
Shaftesbury will apply the monies it receives in repayment of existing bank indebtedness which will be available for redrawing as required.
06 January 2012
For further information:
Brian Bickell, Chief Executive Shaftesbury PLC 020 7333 8118 www.shaftesbury.co.uk
| Simon Courtenay City Profile 020 7448 3244
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Ends.
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