Premier Foods plc Securitisation Programme and Corporate Broker (0316W)
December 19 2013 - 11:29AM
UK Regulatory
TIDMPFD
RNS Number : 0316W
Premier Foods plc
19 December 2013
19 December 2013
Premier Foods Announces Improved Securitisation Programme
and
Joint Corporate Broker Appointment
Premier Foods plc ("the Company") has today completed the
re-financing of its current 'Receivables Securitisation Agreement'
which expires in March 2014. The size of the programme has been
increased from GBP100m to GBP120m, the interest margin reduced and
the tenor extended to the end of September 2015 with an ability to
extend further to the end of December 2016. The new agreement
provides the Company with more cost effective financing and
increased levels of funding and is an important step in developing
a long term and sustainable capital structure.
Separately, the Company has concluded a review of the structure
of its corporate broking arrangements. During this review, the
Company and Citigroup reached a mutual and amicable decision that
Citigroup would step down as brokers to the Company. Consequently,
the Company has appointed Jefferies Hoare Govett as joint corporate
broker alongside the existing joint broker Credit Suisse.
For further information please contact:
Richard Godden, Head of Investor Relations +44 (0) 1727 815 850
Richard Johnson, Group Corporate Affairs
Director +44 (0) 1727 815 850
Maitland
Liz Morley/Tom Eckersley +44 (0) 20 7379 5151
This information is provided by RNS
The company news service from the London Stock Exchange
END
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