Extension of Group Bank Facilities
April 28 2009 - 2:00AM
UK Regulatory
TIDMMWB TIDMMBE TIDMLBE
RNS Number : 2498R
MWB Group Holdings PLC
28 April 2009
FOR IMMEDIATE RELEASE
28 April 2009
MWB GROUP HOLDINGS PLC:
EXTENSION OF GROUP BANK FACILITIES
MWB Group Holdings Plc ("MWB" or "the Group"), the hotels, serviced offices and
retail group, today announces that its banking facilities, totalling
approximately GBP348m, provided by Bank of Scotland and Royal Bank of Scotland
have been extended from their current term of 31 December 2009 to 31 December
2011.
These facilities comprise three separate loans to Malmaison and Hotel du Vin,
MWB Business Exchange and MWB. As a result, none of the Group's funding
facilities are due to expire in the current financial year to December 2009 and
the shortest expiry date is the facility provided to Liberty, whose term runs to
30 September 2010.
Commenting on these extensions, Richard Balfour-Lynn, MWB's Chief Executive,
said: "It is in the Group's long term interests to extend these facilities,
given the current level of illiquidity in the financial markets, and I strongly
believe that this confirms the robustness of our business model and the
excellent relationship we have with our financing partners."
Ends.
Contact:
Richard Balfour-Lynn, Chief Executive, MWB. Tel: 020 7706
2121
Andrew Blurton, Joint Finance Director, MWB. Tel: 020 7706
2121
Baron Phillips, Baron Phillips Associates. Tel: 020 7920 3161
This information is provided by RNS
The company news service from the London Stock Exchange
END
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