REG - Conygar Investmnt Co - Debt facility restructuring

Conygar Investment CoAnnouncement

21/03/2025 10:45

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RNS Number : 6905B  Conygar Investment Company PLC(The)  21 March 2025

 

 

  21 March 2025

THE CONYGAR INVESTMENT COMPANY PLC

Debt facility restructuring

 

The Conygar Investment Company PLC ("Conygar"), the property investment and
development group, announces the completion of its debt facility restructuring
in connection with the development loan provided by Barclays Bank PLC
("Barclays") to a wholly owned subsidiary of the Company. The restructuring
extends the final repayment date for the loan from 23 March 2025 to 23
December 2025. This will enable the further letting and stabilisation of
Winfield Court, the student accommodation development at The Island Quarter
site in Nottingham, provided as security for the loan.

In addition, the total facility amount will be reduced from £47.5 million to
£46.6 million and the interest rate margin payable on the loan reduced from
3.25 per cent to 2.0 per cent to be offset by the inclusion of a £0.5 million
exit fee.

Robert Ware, Chief Executive of Conygar, commented:

"We are delighted to have extended the development loan facility with Barclays
which will enable the further letting and better stabilisation of our student
accommodation development for the 2025-2026 academic year.

 

Enquiries:

The Conygar Investment Company PLC

Robert Ware, David Baldwin: 020 7258 8670

Panmure Liberum Limited (nominated adviser and broker)

Chris Clarke, Jamie Richards: 020 3100 2000

Temple Bar Advisory (public relations)

Alex Child-Villiers: 07795 425580

Sam Livingstone: 07769 655437

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