?505 million Revolving Credit Facility

RNS Number : 5932F

Hammerson PLC

28 April 2011

 



£505 million Revolving Credit Facility

Hammerson plc announces the successful syndication and signing of a £505 million five-year revolving credit facility. The facility carries a margin of 150 basis points over LIBOR. It will be used for general corporate purposes.

The facility was increased from £400 million to £505 million following an over-subscription. BNP Paribas acted as Coordinator for the facility, alongside 11 other prominent financial institutions:

Sterling (£)

BNP Paribas	50,000,000
Barclays Bank PLC	50,000,000
Bank of America Merrill Lynch	50,000,000
The Bank of Tokyo-Mitsubishi UFJ, Ltd.	50,000,000
HSBC Bank plc	50,000,000
JP Morgan	50,000,000
The Royal Bank of Scotland plc	50,000,000
Santander UK plc	50,000,000
Crédit Agricole Corporate and Investment Bank	35,000,000
Deutsche Bank AG, London Branch	35,000,000
Société Générale	35,000,000

This new facility will replace existing undrawn facilities of £670 million due to expire 2011-2013. Hammerson's third existing revolving credit facility of £340 million will be maintained to maturity (2012-2013).

Following this, the total medium-term committed financing available to Hammerson is approximately £2.7 billion.

Simon Melliss, Chief Financial Officer of Hammerson, said:

"I am delighted with the excellent response we have received from our bankers for this facility, which provides flexibility going forward."

Further information:

Simon Melliss, Chief Financial Officer	Tel:  [phone]
Morgan Bone, Director of Corporate Communications	Tel:  [phone] [e-mail]

 

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