The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksR4E.L Regulatory News (R4E)

  • There is currently no data for R4E

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Successful Bank Refinancing

8 Apr 2014 07:00

RNS Number : 2686E
Reach4Entertainment Enterprises PLC
08 April 2014
 



8 April 2014

reach4entertainment enterprises plc

('r4e' or 'the Group')

SUCCESSFUL BANK REFINANCING

The Board of r4e, the transatlantic media and entertainment company, today announce the completion of a successful bank refinancing.

The new agreement with Allied Irish Bank Group (UK) plc. ('AIB'), for which covenants have been agreed, establishes a six year term from 7 April and a new interest rate of 3 per cent over LIBOR, for r4e's £14.8 million revolving credit facility. Numerous capital repayments will be made over the term of the facility at amounts and dates specified in the facility agreement. The first repayment of £0.2 million is due in April 2015.

The new agreement replaces r4e's previous agreement with AIB, which was due to expire in May 2015, and provides a meaningful reduction in the interest rate against the Group's previous facility of 4 per cent over LIBOR, rising to 5 per cent over LIBOR from 26 April 2014.

Overall, the Board expects there to be an annual interest saving of around £220,000 in the year ending 31 December 2014.

ENDS

Enquiries:

reach4entertainment +44 (0) 20 7968 1655

David Stoller, Executive Chairman

Sarah Hall, Chief Operating Officer

Blytheweigh +44 (0) 20 7138 3204

Paul Weigh +44 (0) 7989 129658

Eleanor Parry +44 (0) 7551 293620

Cantor Fitzgerald Europe +44 (0) 20 7894 7000

Mark Percy (Corporate Finance)

David Banks / Paul Jewell (Corporate Broking)

 

Allenby Capital +44 (0) 20 3328 5656

 

Katrina Perez/Kelly Gardiner

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBLGDSDUGBGSR
Date   Source Headline
31st Dec 20151:24 pmRNSTotal Voting Rights
10th Dec 20158:50 amRNSHolding(s) in Company
9th Dec 20157:00 amRNSHolding(s) in Company
8th Dec 201512:44 pmRNSHolding(s) in Company
4th Dec 20154:24 pmRNSHolding(s) in Company
4th Dec 201511:50 amRNSCompletion of Bank Refinancing
3rd Dec 20155:17 pmRNSHolding(s) in Company
3rd Dec 20153:06 pmRNSHolding(s) in Company
3rd Dec 20159:46 amRNSHolding(s) in Company
2nd Dec 201510:22 amRNSResult of GM and Total Voting Rights
13th Nov 201512:15 pmRNSPlacing, Bank Refinancing, Capital Reorg & GM
10th Nov 20158:40 amRNSSpotCo repayment agreement
6th Nov 20157:00 amRNSFurther re restructuring and trading update
30th Oct 20153:55 pmRNSFurther update on restructuring agreement with AIB
13th Oct 20159:37 amRNSFurther re Consultancy Contracts
28th Sep 20157:00 amRNSHolding in Company
25th Sep 20157:00 amRNSNew Debt Facility
18th Sep 20155:55 pmRNSConsultancy Contracts
9th Sep 20157:00 amRNSInterim Results
10th Jul 20153:45 pmRNSDirector/PDMR Shareholding
30th Jun 201511:20 amRNSStatement from the GM and the Results of the AGM
30th Jun 20157:00 amRNSAGM Statement
10th Jun 20157:00 amRNSRestructuring Agreement with AIB
3rd Jun 20154:29 pmRNSNotice of AGM and GM
3rd Jun 201512:30 pmRNSHolding(s) in Company
27th May 20157:00 amRNSFinal Results
22nd May 20153:10 pmRNSHolding(s) in Company
14th May 20157:00 amRNSHolding(s) in Company
13th May 201511:12 amRNSHolding(s) in Company
11th May 20156:10 pmRNSTrading Statement
26th Feb 20153:45 pmRNSYear-end trading update
20th Feb 20154:55 pmRNSHolding(s) in Company
4th Dec 20145:47 pmRNSHolding(s) in Company
14th Nov 20147:00 amRNSTrading Update
10th Nov 20147:00 amRNSHolding(s) in Company
1st Oct 20147:00 amRNSChange of Nominated Adviser and Broker
18th Sep 201410:17 amRNSNotification of Major Interest in Shares
16th Sep 20148:59 amRNSHolding(s) in Company
15th Sep 20147:00 amRNSInterim Results
3rd Sep 20144:10 pmRNSTR-1: Notification of Major Interest in Shares
3rd Sep 20143:27 pmRNSNotice of Interim Results
30th Jun 20141:24 pmRNSResult of AGM
20th Jun 20147:00 amRNSTrading Update
3rd Jun 201410:30 amRNSRevised Notice of Annual General Meeting
22nd May 20147:00 amRNSNotice of AGM
10th Apr 20147:00 amRNSPreliminary results for year ended 31 December 13
8th Apr 20147:00 amRNSSuccessful Bank Refinancing
6th Feb 20147:00 amRNSYear End Trading Update
23rd Jan 20147:00 amRNSr4e granted 17% shareholding in digital platform
16th Jan 20147:00 amRNSAppointment of Joint Corporate Broker

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.