Alpha Pyrenees Trust Limited Update re Financing (4681E)
February 10 2015 - 2:00AM
UK Regulatory
TIDMALPH
RNS Number : 4681E
Alpha Pyrenees Trust Limited
10 February 2015
10 February 2015
ALPHA PYRENEES TRUST LIMITED
("ALPHA PYRENEES" OR THE "COMPANY")
BORROWINGS EXTENDED TO 11 MAY 2015
Further to the announcement on 27 January 2015, the Board of
Alpha Pyrenees is pleased to report that, following progress in the
discussions with the Company's lenders, Barclays Bank PLC
("Barclays"), the maturity date of its borrowings of c EUR271m has
been extended to 11 May 2015. The Trust is compliant with its
borrowing covenants on the test date of 10 February 2015 and no
further covenant tests are scheduled before the amended maturity
date. A fee of 0.5% (c EUR1.35m) of the borrowed amount is being
charged by Barclays for this extension period and this will be
payable at 11 May 2015. The current interest rates will continue to
apply to the facilities during the extension period.
This extension of the maturity date provides additional time for
the Company to progress refinancing options including the potential
refinancing of assets by third party lenders and potential asset
sales. The Company 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
END
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