Last checked at 2 May 2012 09:39
2 May 2012
Safestore Holdings plc
("Safestore" or the "Company")
Refinancing Discussions
Safestore, the largest self-storage retailer in the UK and Paris, notes speculation in the market in relation to the completion of a private placement of Senior Notes by the Company.
The Company confirms that it is in advanced discussions in relation to a refinancing of the Company's debt facilities, which mature in August 2013, and it is considering a private placement of Senior Notes as part of this wider review of its financing arrangements. However, no such transaction has yet been completed.
The Company will update the market further as this review is completed.
ENDS
Enquiries
Safestore Holdings plc 020 8732 1500
Peter Gowers, Chief Executive Officer
Richard Hodsden, Chief Financial Officer
Hudson Sandler 020 7796 4133
Nick Lyon / Wendy Baker
Notes to editors:
·; | Safestore is the UK's largest self storage group with 133 stores. They include 97 wholly owned stores in the UK and 24 wholly owned stores in the Paris region together with 12 stores under management in the UK.
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·; | The Company provides storage to almost 45,000 personal and business customers.
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·; | Safestore (excluding Space Maker) has a maximum lettable area of 5.3 million sq ft (including the expansion pipeline stores) of which 3.19 million sq ft is currently occupied.
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·; | A strong balance sheet and operational cash flow allow Safestore to invest in continual improvements in the operational performance of its stores, in new store development and acquisitions where appropriate.
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·; | Safestore employs around 550 people. |