14 Oct 2016 15:38
Shaftesbury PLC
Cancellation of interest rate swaps
Shaftesbury PLC announces that, today, it has cancelled interest rate swaps with a notional principal of £55 million at a cost of £34.1 million, £3.9 million less than the mark to market valuation at 30 September 2016. The termination cost is equivalent to a reduction in EPRA NAV of 12 pence per share. This transaction reduces our blended cost of debt by c 40 basis points. Together with our recent successful £285 million bond issue, which reduced our cost of debt by c. 25 basis points, the overall reduction in our blended cost of debt from this recent financing activity is c. 65 basis points.
14 October 2016
For further information:
Shaftesbury PLC 020 7333 8118 | Capital Access Group 020 3763 3400 |
Brian Bickell, Chief Executive Chris Ward, Finance Director
| Simon Courtenay
|
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