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Quayle Munro Hldgs (QYM)

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Friday 28 June, 2013

Quayle Munro Hldgs

Refinancing of Morris Group debt facilities

RNS Number : 1715I
Quayle Munro Holdings PLC
28 June 2013
 



28 June 2013

 

Quayle Munro Holdings PLC ("Quayle Munro")

 

Refinancing of Morris Group Limited ("Morris" or the "Group") debt facilities

 

The Board of Quayle Munro is pleased to announce that the housebuilder Morris, in which Quayle Munro is a 23% shareholder, has today completed a refinancing of its existing debt facilities with a £185m loan provided by affiliates of GSO Capital Partners LP. As part of this refinancing, Morris has bought back a minority stake in the Group at a price which would imply an equity value for the whole of Morris of approximately £48m. However, it is likely that Quayle Munro's investment in Morris will continue to be accounted for using a discount to net tangible assets.

 

Enquiries:

 

N+1 Singer

Jonny Franklin-Adams                                       +44 (0) 20 7496 3000

Alex Wright

 


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