Arbuthnot Banking Group PLC New £25 million (Tier 2 qualifying) loan (8095A)
June 03 2019 - 10:35AM
UK Regulatory
TIDMARBB
RNS Number : 8095A
Arbuthnot Banking Group PLC
03 June 2019
3 June 2019
ARBUTHNOT BANKING GROUP PLC
New loan facility of GBP25 million
Increase in Tier 2 Regulatory Capital
Arbuthnot Banking Group PLC ("ABG", "the Company" or "the
Group") announces that it has today completed a private issue of a
sub-ordinated loan (the "Loan") on a bilateral basis with Proventus
Capital Partners a Swedish Debt Fund to raise GBP25,000,000 before
fees and expenses.
The loan has been fully drawn and will be classified as Tier 2
for regulatory capital purposes. The proceeds will support the
continuing long term growth of the Group and in particular the
ongoing diversification of its wholly owned bank, Arbuthnot Latham
& Co., Limited.
The Loan matures on 3 June 2029 but can be repaid by ABG after
the fifth anniversary. Interest is payable on the loan at the rate
of 7.75% plus LIBOR or its replacement benchmark rate.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU No. 596/2014). Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
The directors of the Company accept responsibility for the
contents of this announcement.
Enquiries:
Arbuthnot Banking Group plc 020 7012 2400
Sir Henry Angest, Chairman and Chief
Executive
Andrew Salmon, Group Chief Operating
Officer
James Cobb, Group Finance Director
Grant Thornton (Nominated Adviser
and NEX Exchange Corporate Adviser) 020 7383 5100
Colin Aaronson
Samantha Harrison
Niall McDonald
Numis Securities Ltd (Joint Broker) 020 7260 1000
Chris Wilkinson
Stephen Westgate
Shore Capital (Joint Broker) 020 7408 4090
Hugh Morgan
Daniel Bush
Maitland (Financial PR) 020 7379 5151
Neil Bennett
Sam Cartwright
Jais Mehaji
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.
END
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