API Group plc - New 3.5 year Banking Facilities
(Thomson Reuters ONE) - 16th November 2009 API Group plc New 3.5 Year Banking FacilitiesAPI Group plc (LSE : API, the "Group"), the specialist foils andpackaging materials producer, today announces that it has agreedprincipal terms of a new banking facilities agreement with its mainlender, Barclays Bank plc (the "Bank").The agreement, which is expected to be signed in the next two weeks,provides the Group with committed funds to meet its foreseeablerequirements until July 2013, a period of just over 3.5 years.The new facility makes available a term loan of £14.4m at an interestrate of 4.0% to 4.5% over LIBOR. Additional interest of 8% ispayable on a roll up basis at the end of the term on £3.65m of thedebt. Repayments on the £7.0m amortising portion are scheduled fromOctober 2010.The Group will also continue to be provided with a Multi Optionoverdraft facility of £3.5m, renewable annually.In lieu of arrangement fees and other costs, the Group has agreed togrant the Bank a warrant to subscribe for 5% of its issued sharecapital at the nominal price of 1 pence per share, exercisable at anytime up to the eighth anniversary of the agreement.Commenting on the renewed facilities, Richard Wright, Non ExecutiveChairman said :"We are pleased to have the continued support from Barclays. Againstthe backdrop of tight conditions in the credit markets and thechallenging economic environment, the renewal of our main lendingfacility is a demonstration of confidence in our management team andthe longer term prospects of the Group." For further information:APIGroupTel: +44 (0) 1625 650334Andrew Turner, Group Chief ExecutiveChris Smith, Group Finance DirectorNumis SecuritiesLtdTel : +44 (0) 20 7260 1000Nick Westlake, Nominated AdvisorJames Serjeant, Corporate BrokingThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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" alt="Anooraq Announces Results for the Periods ended September 30, 2009Datum: 16.11.2009 - 08:15 Uhr
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