13th May 2011 13:19
UBM plc annnounces replacement £300m, five year bank facility
UBM plc announces a new £300 million, five-year Multicurrency Revolving Credit Facility to replace the £325 million agreement which was due to mature in July 2012. The facility will be used for general corporate purposes.
The new facility, which matures in May 2016, was over-subscribed by the syndicate of UBM's core relationship banks, who all participated as mandated lead arrangers and bookrunners. The terms reflect current market conditions and there are no changes to the Group's financial covenants.
Commenting on the refinancing, UBM's Chief Financial Officer, Robert Gray said:
"We are delighted that all of our leading relationship banks have participated in the renewal of our revolving credit facility, which is a central element of our liquidity and financing strategy. We have a great bank group with complementary skills and strengths, and we are pleased that they will continue to support UBM's global operations and strategic development."
- Ends - ContactsAnalysts/Investors Kate Postans Head of Investor Relations Email [email protected] Direct telephone +44 20 7921 5095 Media Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Notes to Editors1. About UBM plc
UBM plc is a leading global business media company. We inform markets and bring the world's buyers and sellers together at events, online, in print and provide them with the information they need to do business successfully. We focus on serving professional commercial communities, from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists around the world. Our 6,000 staff in more than 30 countries are organised into specialist teams that serve these communities, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.ubm.com
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