Alpha Pyrenees Trust Limited Financing Update (3092C)
October 15 2015 - 2:00AM
UK Regulatory
TIDMALPH
RNS Number : 3092C
Alpha Pyrenees Trust Limited
15 October 2015
15 October 2015
ALPHA PYRENEES TRUST LIMITED
("ALPHA PYRENEES" OR THE "TRUST")
BORROWINGS EXTENDED TO 15 APRIL 2016
Further to the announcement on 8 May 2015 regarding the
extension of the Trust's loan facilities with Barclays Bank PLC
("Barclays") to 15 October 2015, the Board of Alpha Pyrenees is
pleased to report that a new extension has been agreed and the
maturity date of all its borrowings (EUR257.8m) is now extended to
15 April 2016.
The current interest rates will continue to apply to the
facilities during the extension period. Arrangement fees (charged
at 2% per annum pro-rated) on the initial and new extensions will
all be deferred to the new maturity date and will be payable to the
extent that the Trust has sufficient cash funds at that time. The
Trust is currently compliant with its borrowing covenants.
The Trust has the support of its lender for an orderly
realisation of its investment property. The Investment Manager will
continue to concentrate on active asset management and property
management initiatives to secure the Trust's income while pursuing
asset sale opportunities.
The Trust will provide further updates in due course.
For further information:
Dick Kingston, Chairman, Alpha Pyrenees Trust Limited 01481 231100
Paul Cable, Fund Manager, Alpha Real Capital LLP 020 7391 4700
For more information on the Trust, please visit
www.alphapyreneestrust.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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