6 September 2012
CAPITAL & REGIONAL PLC :
EXTENSION OF GROUP LOAN FACILITIES
Capital & Regional ("the Company") announces that it has now signed agreements for the extension of its Group Revolving Credit Facility ("RCF") and the Morrison Merlin Loan for the Great Northern property. In its recent interim results the Company announced that extension terms had been agreed but still needed to be documented.
The new agreement provides for the RCF to be reduced to £25 million from £58 million, to reduce cost and better reflect the Group's central funding needs. The maturity of the RCF is extended to July 2016 from its previous maturity in September 2013.
The term of the Morrison Merlin loan has been extended by one year to October 2014.
Further information will be provided with the Group's Q3 Interim Management Statement in November.
For further information:
Capital & Regional:
Hugh Scott-Barrett, Chief Executive Tel: 020 7932 8000
Charles Staveley, Group Finance Director Tel: 020 7932 8000
Martin Leeburn Tel: 020 7379 5151
Emma Burdett Tel: 020 7379 5151
Notes to editors:
About Capital & Regional plc
Capital & Regional is a specialist property company with a track record of developing asset management opportunities in town centre shopping centres and out of town retail parks.
Capital & Regional founded The Mall and The Junction funds in conjunction with Aviva Investors. Capital & Regional acts as Property and Asset Manager for the Mall and Junction funds and holds 20.1% and 13.4% respectively of these funds.
Capital & Regional & AREA Property Partners each hold a 50% interest in a German retail property portfolio which is managed by Garigal Asset Management GmbH, in which Capital & Regional holds a 30% interest.
Capital & Regional also has an 11.9% stake in the X-Leisure fund, which is managed by X-Leisure Limited in which Capital & Regional holds a 50% interest.
Capital & Regional has a number of other joint ventures and wholly-owned properties.
For further information see www.capreg.com