Financing of Neo Portfolio Completed

RNS Number : 6655U

CLS Holdings PLC

04 December 2013

 

Release date:                4 December 2013

Embargoed until:            Immediate Release

CLS Holdings plc

("CLS", the "Company" or the "Group")

Financing of Neo Portfolio Completed

CLS Holdings plc announces that a wholly-owned subsidiary of the Company has completed the debt financing of the Group's recent acquisition of the Neo portfolio, and one additional government-occupied property, through an institutional private placement with a single UK institution.  The £80 million, secured, 9-year, partially-amortising note will carry a fixed coupon of 4.171% over a weighted average term of 7 years, and will be listed.

Sten Mortstedt, Executive Chairman of CLS, commented:

"This is an innovative, flexible funding solution which adds further diversity and duration to the Group's debt profile.  It is tailored to our aspirations for this portfolio, which is 99% government-occupied, and on which we are already driving some positive asset management initiatives."

-ends-

For further information, please contact:

CLS Holdings plc                                                         [phone]

www.clsholdings.com

Sten Mortstedt, Executive Chairman

Henry Klotz, Executive Vice Chairman

Richard Tice, Chief Executive Officer

Liberum Capital Limited                                             [phone]

Tom Fyson

Charles Stanley Securities                                          [phone]

Mark Taylor                                                                  

Kinmont Limited                                                          [phone]

Jonathan Gray

Smithfield Consultants (Financial PR)                         [phone]

Alex Simmons

 

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