Refinanced Bank Facilities Extended to May 2014 (3291B)

TIDMGMG

RNS Number : 3291B

Game Group PLC

16 February 2011

The GAME Group plc

Refinanced Bank Facilities Extended to May 2014

The GAME Group plc is pleased to announce that on 16 February 2011 the Group signed new borrowing arrangements for a GBP160m three and a half year facility maturing in May 2014. The facility is with a syndicate of six banks, including existing lenders (see note 1).

The facility comprises a GBP30m term loan and a GBP130m multi-currency revolving credit facility. It replaces a GBP50m term loan and a GBP125m multi-currency revolving credit facility which was due to expire in May 2012.

The new arrangement will repay the existing facility, and cover working capital requirements and increase financial flexibility for the future.

Commenting on the new facility Ben White, Group Finance Director, said:

"It is pleasing that we have both new and existing banking partners who understand our strategic plans, which have been developed so that we continue to be the leading retailer of PC and video games both in the UK and internationally.

The facilities give us the appropriate flexibility over the next three and a half years and enhance an already strong balance sheet profile."

- ends -

Note 1:

The Royal Bank of Scotland plc

Barclays Bank plc

HSBC Bank plc and HSBC Bank Australia Limited

Caixa d'Estalvis i Pensions de Barcelona, "la Caixa"

The Governor and Company of the Bank of Ireland

Allied Irish Banks, p.l.c.

Enquiries:

 
GAME Group   Simon Soffe, Communications & Investor 
 plc          Relations Director                      +44 1256 784566 
 
             Jonathan Glass 
             Wendel Verbeek 
Brunswick     Oliver Hughes                           +44 207 404 5959

This information is provided by RNS

The company news service from the London Stock Exchange

END

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