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18 Oct 2012 07:00
FOR IMMEDIATE RELEASE
18 October 2012
REDEFINE INTERNATIONAL P.L.C.
('Redefine International', the 'Company' or the 'Group')
REDEFINE INTERNATIONAL AGREES STANDSTILL AGREEMENT ON GAMMA FACILITY
Further to on-going negotiations and following the maturity of the £199.6 million Gamma Facility on 15 October 2012, the Company has entered into a Standstill Agreement with the facility servicer, as previously anticipated.
The servicer has confirmed its intention to refrain from exercising its rights under the facility or security documentation while the Standstill Agreement is in place and subject to, inter alia, the borrowers continuing to co-operate and act in compliance with the facility and finance documentation.
The Company continues to seek agreement on a mutually beneficial solution that will achieve the best outcome for all parties. The facility remains non-recourse to the Group.
Further enquiries:
Redefine International Property Management Limited Investment Adviser |
|
Michael Watters, Stephen Oakenfull | Tel: +44 (0) 20 7811 0100 |
FTI Consulting Public Relations Adviser |
|
Stephanie Highett, Dido Laurimore, Faye Walters | Tel: +44 (0) 20 7831 3113 |
RDI.L (RDI)
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