Re New Loan Facilities

21 Sep 2005 17:33

R.E.A.Hldgs PLC21 September 2005 R.E.A. Holdings plc ("REA") announces that its subsidiary, PT REA KaltimPlantations ("REA Kaltim"), has now concluded negotiation of new loan facilitiesin Indonesia. The negotiation, which has been in progress for over a year and ofwhich shareholders have been previously advised (most recently in the prospectus(the "Prospectus") issued by REA on 17 August 2005), has resulted in anagreement between REA Kaltim and a consortium of three banks for the provisionby the banks to REA Kaltim of new loan facilities totalling $45 million(currently equivalent to £25 million). The new facilities have been guaranteedby REA. An initial $38 million has been drawn down and, as foreseen in theProspectus, has been principally applied in repaying all former REA Kaltim thirdparty indebtedness other than $3.5 million (currently equivalent to £1.9million) under a working capital facility which has been renewed. This information is provided by RNS The company news service from the London Stock Exchange