13th Jul 2010 07:00
Treveria plc
("Treveria" or the "Group")
Update on Loan Facility
13 July 2010
Treveria plc (AIM: TRV), the German retail focused real estate investment company, announces that it has agreed certain covenant waivers with regard to its second Deutsche Bank/Citigroup debt facility.
Deutsche Bank and Citigroup have agreed to waive any loan to value ("LTV") and debt service cover ratio ("DSCR") hard breaches for the loan facility until 28 February 2011. The current outstanding amount of the facility is EUR 220 million. As at 13 April 2010 the LTV stood at 85% and the DSCR was 111%, compared
to hard breach covenants of 95% and 110%. The cash trap covenants are 80% and 125%.
Additionally, in March 2011 the waiver will be extended until loan maturity (20 July 2011) if the LTV as at 31 December 2010 has not exceeded the LTV as at 30 June 2010.
Enquiries:
|
Treveria Asset Management Michael Neubuerger / Bernhard Fuhrmann
|
+44 (0)20 7960 6525 |
|
Singer Capital Markets Limited James Maxwell / Nick Donovan
|
+44 (0)20 3205 7500 |
|
Financial Dynamics Stephanie Highett / Richard Sunderland / Laurence Jones |
+44 (0)20 7831 3113 |
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