Johnston Press PLC Amendment to Credit Facility (6973L)
October 04 2016 - 1:02PM
UK Regulatory
TIDMJPR
RNS Number : 6973L
Johnston Press PLC
04 October 2016
Johnston Press plc
("Johnston Press" or the "Company")
Amendment to the Super Senior Revolving Credit Facility (the
"Facility")
Johnston Press stated in its interim report for the 26 weeks
ended 2 July 2016 published on 4 August 2016 that it would seek to
review the Facility with its lenders to ensure it continues to meet
the needs of the business.
The Company is pleased to announce that it has agreed changes to
certain terms of the Facility with all of the lenders (the
"Lenders"). The changes are effective immediately and will be
effective until 31 December 2016.
The Facility is currently unutilised.
Under the terms of the agreement, the total commitments under
the Facility will be GBP12.5 million. In addition, in advance of
the September 2016 covenant test, the Lenders have agreed to waive
this test and that the next covenant test date will be for the 12
month period ending on 31 December 2016.
The Company will now work with the Lenders to agree amendments
to the Facility, anticipated to be effective from 2017 onwards, in
light of recent developments including the acquisition of the i
newspaper and potential future asset disposals.
Market abuse regulation
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Johnston Press
Ashley Highfield, Chief Executive Officer 020 7612 2601
David King, Chief Financial Officer 020 7612 2602
Bell Pottinger
Dan de Belder
Henry Lerwill 020 3772 2561
This information is provided by RNS
The company news service from the London Stock Exchange
END
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