Scotiabank Bridge Facility - extension of term

RNS Number : 0422D

UIL Limited

24 April 2017

 

24 April 2017

UIL Limited

Scotiabank £25m bridge facility - extension of term

UIL Limited ("UIL" or the "Company") is pleased to announce that it has extended its £25 million senior secured multicurrency bridge facility with Scotiabank Europe PLC ("Scotiabank") by two months until 24 June 2017.

The Company entered into this facility in October 2016 prior to the redemption of the 2016 ZDP shares.  The bridge facility was fully drawn at the end of March 2017 as NZ$43.75 million.  On 13 April 2017 UIL repaid NZ$8.75 million reducing the drawings to NZ$35.0 million (£19.2m at current exchange rates of 1.827).

For further information please contact:

ICM Investment Management Limited

Charles Jillings

01372 271486

 

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