REG - Distribution Finance - Temporary waiver granted by Lenders

Distribution Finance Capital HoldingsAnnouncement

11/05/2020 07:09

RNS Number : 3712M
  
Distribution Finance Cap. Hldgs PLC
  
10 May 2020
  
 

 
11 May 2020
 
 
Distribution Finance Capital Holdings plc

("DFC" or the "Company" or together with its subsidiaries the "DFC Group")
 
Temporary waiver granted by Lenders
 
On 28 April 2020, the Company announced that it was in ongoing constructive dialogue with its senior and senior mezzanine facility lenders (the "Lenders") to agree a temporary waiver of an early amortisation provision in its funding facilities to 30 June 2020.
 
Specific terms and covenants have now been agreed with the Lenders that support the loan book during the period of the waiver, which expires on 30 June 2020. Both the Lenders and the Company continue to monitor the emerging economic landscape alongside the plans and trading patterns of dealers and manufacturers in the post-lockdown period. In light of the specific terms of the waiver, whilst allowing the Company to support modest levels of new lending to its existing customer base, it is expected that, as previously announced, the loan book balance will reduce in the near-term. 
 
The Company will provide further discussion of its future funding strategy on announcement of its full year results for the year ended 30 December 2019, which is expected to take place during early June with its Annual General Meeting convened thereafter. 
 
 
Enquiries:
 
Distribution Finance Capital Holdings plc
Carl D'Ammassa - Chief Executive Officer                                              +44 (0) 20 3937 6390
http://www.dfcapital-investors.com 
Macquarie Capital (Europe) Limited (NOMAD and broker)
Alex Reynolds                                                                                       +44 (0) 20 3037 2000
Jonny Allison
Blue Pool Communications (Financial PR)
Nick Lord                                                                                              +44 (0) 7501 271 083
 
 


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