Debt Repayment

RNS Number : 9190H

Summit Germany Limited

16 March 2018

 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Summit Germany Limited

(the "Company")

Debt repayment

16 March 2018

The Company announces that following receipt of the proceeds from its recent bond issue, it has repaid existing debt facilities totalling c. €220 million, including a €19.5 million loan from Summit Real Estate Holdings Ltd.

The average interest rate of the repaid facilities was 3.62% p.a. versus 2.00% p.a. for the senior fixed rate notes issued pursuant to the bond. This should result in interest cost savings of c. €3.4 million p.a. for the Company.

For further information please contact:

Summit Germany Limited	Tel: [phone]
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman	Tel: [phone]
Harry Hyman
Carey Group, Company Secretary	Tel: [phone]
Sara Bourne
Liberum Capital Limited, Nominated Adviser and Joint Broker	Tel: [phone]
Chris Clarke / Jill Li
Cenkos Securities, Joint Broker	Tel: [phone]
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)

 

END

 

 

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