Bonds Redemption and Utilisation of Loan Facility

RNS Number : 6195W

Shaftesbury Capital PLC

18 April 2023

 

 18 April 2023

SHAFTESBURY CAPITAL PLC

("The Group")

£290,000,000 SHAFTESBURY CHINATOWN PLC BONDS - 2.348 PER CENT. GUARANTEED FIRST MORTGAGE BONDS DUE 2027 - ISIN: XS1667074121, Common Code: 166707412
(the "Chinatown Bonds")

and

£285,000,000 SHAFTESBURY CARNABY PLC BONDS - 2.487 PER CENT. GUARANTEED FIRST MORTGAGE BONDS DUE 2031 - ISIN: XS1493395070, Common Code: 149339507
(the "Carnaby Bonds")

Guaranteed by

SHAFTESBURY PLC

Redemption of Bonds and Utilisation of Loan Facility

Following the occurrence of a change of control put event in respect of the Chinatown Bonds and the Carnaby Bonds (together, the "Bonds"), each bondholder had the option to require the relevant issuer to redeem (or, at the relevant issuer's option, purchase or procure the purchase of) its bonds by exercising a change of control put option by no later than 8 April 2023.

100 per cent. of the Chinatown Bond bondholders exercised their change of control put option and the Chinatown Bonds were redeemed in full on 17 April 2023 (the "Change of Control Put Date"). 99.9123 per cent. of the Carnaby Bond bondholders exercised their change of control put option and 99.9123 per cent. of the Carnaby Bonds were redeemed on the Change of Control Put Date.

On 18 April 2023, Shaftesbury Carnaby plc exercised its option to redeem the remaining outstanding Carnaby Bonds at their nominal amount, together with interest accrued to (but excluding) the date fixed for redemption, such date being 19 May 2023.

An application will be made to the Financial Conduct Authority to delist the Bonds following completion of the final redemption.

The redemption of the Bonds has been funded in full by utilisation of the Shaftesbury Capital PLC £576 million loan facility agreement provided by Barclays Bank PLC, BNP Paribas SA and HSBC Bank plc dated 16 June 2022 (the "Facility Agreement").

A summary of the Facility Agreement terms is set out in the merger prospectus dated 7 July 2022 and the Facility Agreement is available on the Shaftesbury Capital PLC website.

Enquiries:

Shaftesbury Capital PLC
Situl Jobanputra - Chief Financial Officer Graham Keer - Group Treasurer Desna Martin - Group Company Secretary Telephone: [phone]

 

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