Utilico Emerging Markets New Loan Facility Scotiabank Europe
February 24 2012 - 5:50AM
Dow Jones News
Utilico Emerging Markets Ltd (UEM.LN), said Friday it has
entered into a new Senior Secured Multicurrency Revolving Facility
Agreement with Scotiabank Europe PLC for up to GBP50 million
maturing on Feb. 23, 2014.
MAIN FACTS:
-Following satisfaction of all conditions precedent by the
company, the new loan facility is available for draw down with
effect from Feb. 23.
-The new facility replaces the existing GBP25 million
multicurrency facility provided by HBOS which matures on March
15.
-The rate of interest is a margin of 1.20% per annum above LIBOR
and the loan is secured against UEM's assets by way of English and
Bermuda law debentures.
-Shares at 1016 GMT up 0.01pence, or 0.8%, at 162 pence, valuing
the company at GBP346.46 million.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275;
razak.baba@dowjones.com
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