Shaftesbury PLC Bond Issuance Pricing (4960P)
August 31 2017 - 10:32AM
UK Regulatory
TIDMSHB
RNS Number : 4960P
Shaftesbury PLC
31 August 2017
Shaftesbury PLC
Bond issuance pricing
Shaftesbury PLC, the Real Estate Investment Trust that owns a 14
1/2 acre portfolio in London's West End, announces that Shaftesbury
Chinatown PLC, a wholly-owned subsidiary, has successfully launched
and priced GBP290 million first mortgage bonds due 30 September
2027 with a coupon of 2.348%. The bonds are secured on properties
held by Shaftesbury Chinatown PLC and benefit from an unsecured
guarantee from Shaftesbury PLC.
The proceeds of the issue will be used to refinance GBP75
million of bank facilities and to increase the Group's financial
resources. The issue further diversifies the Group's sources of
funding, whilst extending its weighted average debt maturity.
Chris Ward, Finance Director, commented:
"We are delighted by the response to this debt issuance. The
appetite and pricing is an endorsement of the Group's long-term
prospects. As well as raising significant financial resources, it
has further diversified our sources of finance and increased our
weighted average debt maturity."
IDCM Limited and Lloyds Bank plc acted as joint lead managers
and National Australia Bank acted as passive lead manager in
respect of the issue of the Bonds.
Ends.
31 August 2017
For further information:
Shaftesbury PLC 020 7333 RMS Partners 020 3735 6551
8118 Simon Courtenay
Chris Ward, Finance Director MHP Communications 020
3128 8100
Reg Hoare/Gina Bell
About Shaftesbury
Shaftesbury PLC is a Real Estate Investment Trust, which owns an
exceptional 14 1/2 acre portfolio in the heart of London's West End
- a highly popular, sought-after and prosperous destination for
visitors and businesses. Our holdings are concentrated in Carnaby,
Covent Garden, Chinatown, Soho and Charlotte Street.
Our objective is to deliver long-term outperformance in growth
in rental income, capital values and shareholder returns.
We focus on retail, restaurants and leisure in the liveliest
parts of the West End. At 31 March 2017 our portfolio comprised 282
restaurants, cafés and pubs and 301 shops, together extending to
1.1 million sq. ft., and accounting for 70% of our current income.
In our locations, these uses have a long record of occupier demand
exceeding their availability. The portfolio also includes 405,000
sq. ft. of offices and 570 apartments for rent, which provide 17%
and 13%, respectively, of our current income.
In addition, we have a 50% interest in the Longmartin joint
venture with The Mercers' Company, which has a long leasehold
interest in St Martin's Courtyard in Covent Garden. Extending to
1.9 acres, it includes 21 shops, ten restaurants and cafés, 102,000
sq. ft. of offices and 75 apartments.
Forward-looking statements
This document may contain certain 'forward-looking' statements.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances.
Actual outcomes and results may differ materially from any outcomes
or results expressed or implied by such forward-looking
statements.
Any forward-looking statements made by, or on behalf of,
Shaftesbury PLC speak only as of the date they are made and no
representation or warranty is given in relation to them, including
as to their completeness or accuracy or the basis on which they
were prepared. Shaftesbury PLC does not undertake to update
forward-looking statements to reflect any changes in its
expectations with regard thereto or any changes in events,
conditions or circumstances on which any such statement is
based.
Information contained in this document relating to Shaftesbury
PLC or its share price, or the yield on its shares, should not be
relied upon as an indicator of future performance.
Intended addressees
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFERING OF THE FIRST
MORTGAGE BONDS DESCRIBED HEREIN.
THIS ANNOUNCEMENT MAY NOT BE DISTRIBUTED, TAKEN OR TRANSMITTED
IN OR INTO THE UNITED STATES, ITS TERRITORIES OR POSSESSIONS OR TO
U.S. PERSONS, OR IN OR INTO ANY OTHER JURISDICTION IN WHICH TO DO
SO WOULD BE UNLAWFUL AND ANY FORWARDING, DISTRIBUTION OR
REPRODUCTION OF THIS ANNOUNCEMENT IN WHOLE OR IN PART IS
UNAUTHORISED. FAILURE TO COMPLY WITH THIS NOTICE MAY RESULT IN A
VIOLATION OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT") OR THE APPLICABLE LAWS OF OTHER
JURISDICTIONS.
THIS ANNOUNCEMENT IS ONLY DIRECTED AT (I) PERSONS WHO ARE
OUTSIDE THE UNITED KINGDOM OR (II) THOSE PERSONS WHO ARE EXISTING
MEMBERS OR CREDITORS OF THE COMPANY OR OTHER PERSONS WITHIN ARTICLE
43 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL
PROMOTION) ORDER 2005 (THE "ORDER") OR (III) INVESTMENT
PROFESSIONALS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL
SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE
"ORDER") OR (IV) HIGH NET WORTH COMPANIES, AND OTHER PERSONS TO
WHOM IT MAY LAWFULLY BE COMMUNICATED, FALLING WITHIN ARTICLE
49(2)(A) TO (D) OF THE ORDER (ALL SUCH PERSONS IN (I), (II), (III)
AND (IV) ABOVE TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS")
AND MUST NOT BE ACTED ON OR RELIED UPON BY PERSONS OTHER THAN
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INFORMATION PURPOSES ONLY.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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