Term Loan Facility

16 May 2007 15:49

RIT Capital Partners PLC16 May 2007 Term Loan Facility RIT Capital Partners plc ('RITCP') has today agreed terms of a £150 million TermLoan Facility with National Australia Bank. The Facility is to be drawn in fullon 18 May 2007 and is repayable on 17 May 2010, unless extended. The facility is for an initial term of three years, with an option to extend therepayment date for a further year. Notice of any such extension shall be givenby RITCP between 60 and 90 days in advance of the end of the initial three yearterm. The Facility provides for further annual extensions on the same basisthereafter. The Facility is available to RITCP in any combination of £, US Dollars, Euros orJapanese Yen. Notice of drawdown has been given to draw 50% of the full £150million facility in U.S. Dollars, and the other 50% in Japanese Yen. Limitedopportunities to switch currencies during the term of the Facility are permittedunder its terms. The proceeds of drawdown shall first be applied in repaying some of RITCP'sshort term borrowings, leaving sufficient funds available for foreseeableinvestment commitments. RITCP's variable interest liabilities under the Facility have been effectivelyfixed for the initial three year period by means of a separate interest rateswap, co-terminous with the Facility. The effective fixed interest rates are5.5925% per annum for the U.S. Dollar portion of the Facility and 1.7450% perannum for the Yen portion. Enquiries: Duncan Budge, tel: 020 7514 1928 David Haysey, tel: 020 7514 1926 This information is provided by RNS The company news service from the London Stock Exchange