REG-Fuller, Smith & Turner PLC Fuller, Smith & Turner PLC: New £200 million Banking Facilities

Fuller Smith & TurnerAnnouncement

01/06/2022 07:15

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   Fuller, Smith & Turner PLC (FSTA)
   Fuller, Smith & Turner PLC: New £200 million Banking Facilities

   01-Jun-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   STRICTLY EMBARGOED

   UNTIL 7AM WEDNESDAY 1 JUNE 2022

                                        

                         FULLER, SMITH & TURNER P.L.C.

                  (“Fuller’s”, the “Company”, or the “Group”)

                      New £200 million Banking Facilities

   Fuller’s, the premium pubs and hotels business, today announces that it
   has successfully completed the refinancing of its Group debt facilities of
   £192 million, which were due to mature in February 2023. The new debt
   facilities consist of a £90 million term loan and a £110 million Revolving
   Credit Facility provided by a syndicate of seven banks.

    

   The new facilities have an initial maturity date of 31 May 2026 with an
   option to extend by a further year. The facilities are unsecured, and the
   borrowing cost of the facilities is determined by the level of Company
   leverage. The initial borrowing cost is 285 basis points over SONIA, which
   is a significant improvement to the cost of the existing debt facilities.

    

   The new facilities are £119 million drawn, leaving £81 million of undrawn
   facilities available to support the future growth of the business.

    

   The Company will provide a comprehensive trading and strategy update at
   its Full Year results announcement for the year ended 26 March 2022 on 9
   June 2022.

                                        

                                     -Ends-

   For further information, please contact:

    

   Fuller, Smith & Turner P.L.C.           
   Simon Emeny, Chief Executive           020 8996 2000
   Neil Smith, Finance Director           020 8996 2000
   Georgina Wald, Corporate Comms Manager 020 8996 2198
                                           
   Instinctif Partners                     
   Justine Warren                         020 7457 2010

    

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   ISIN:           GB00B1YPC344
   Category Code:  MSCH
   TIDM:           FSTA
   LEI Code:       213800C7ACOFMRCQQW76
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   165314
   EQS News ID:    1365547


    
   End of Announcement EQS News Service

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