TIDMARBB

RNS Number : 3461X

Arbuthnot Banking Group PLC

19 December 2023

19 December 2023

Arbuthnot Banking Group PLC

Renewal of Tier 2 Regulatory Capital Loan facility

Arbuthnot Banking Group PLC ("ABG", the "Company" or the "Group") announces today that it has reached agreement to renew the private issue of its sub ordinated loan ("the Loan") issued on a bilateral basis to Proventus Capital Partners, a Swedish Debt fund (originally announced on 3 June 2019). The Loan is being increased by GBP1,000,000 to GBP26,000,000 before fees and expenses.

The Loan is expected to be drawn on 3 June 2024 which is the fifth anniversary of the initial loan. The Loan is expected to mature on 3 June 2034 but can be repaid by ABG after the fifth anniversary. Interest is payable on the Loan at a rate of 7.25% plus SONIA.

Repayment of the initial loan and issuance of the Loan as part of the capital resources of the Group is subject to approval by the Prudential Regulation Authority. A further announcement will be made in due course.

It is expected this will be classified as Tier 2 for capital purposes and will maintain the current levels of capital to support the strategic plans of the Group.

The Directors of the Company accept responsibility for the contents of this announcement.

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 
 
ENQUIRIES: 
 
Arbuthnot Banking Group                             020 7012 2400 
Sir Henry Angest, Chairman and Chief Executive 
Andrew Salmon, Group Chief Operating Officer 
James Cobb, Group Finance Director 
 
Grant Thornton UK LLP (Nominated Adviser and AQSE 
 Corporate Adviser)                                 020 7383 5100 
Colin Aaronson 
Samantha Harrison 
Ciara Donnelly 
 
Shore Capital (Broker)                              020 7408 4090 
Daniel Bush 
David Coaten 
Tom Knibbs 
 
H/Advisors Maitland (Financial PR)                  020 7379 5151 
Sam Cartwright 
 Neil Bennett

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCGZMMZDLFGFZM

(END) Dow Jones Newswires

December 19, 2023 09:06 ET (14:06 GMT)

Arbuthnot Banking (AQSE:ARBB)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Arbuthnot Banking Charts.
Arbuthnot Banking (AQSE:ARBB)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Arbuthnot Banking Charts.