TIDMBVS

RNS Number : 4372M

Bovis Homes Group PLC

27 August 2013

27(th) August 2013

Bovis Homes Group PLC

Further Banking Arrangement Agreed

Bovis Homes Group PLC is pleased to announce that it has signed a further GBP50m commitment as part of its banking deal to provide the Group with additional financial flexibility.

The Group has signed a GBP50m extension to the GBP125 million committed revolving credit facility agreed in January 2013 taking the facility to GBP175m in total. Combined with the three year term loan of GBP25 million entered into in January 2013, the Group now has GBP200m of facilities in place. The GBP50m extension, with the existing syndicate banks, expires in December 2015 with the remaining GBP125m expiring in March 2017.

As at 30 June 2013, the Group retained a robust balance sheet with net debt of GBP48 million following significant land investment in H1 2013. This additional facility gives the Group improved financial flexibility to take advantage of opportunities in the consented and strategic land market.

-ENDS-

Enquiries:

David Ritchie, Chief Executive

Jonathan Hill, Group Finance Director

Bovis Homes Group PLC

   Tel:   01474 876200

Andrew Jaques, Reg Hoare, James White, Giles Robinson

MHP Communications

   Tel:   +44 (0)203 128 8756

This information is provided by RNS

The company news service from the London Stock Exchange

END

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