REG-R.E.A. Holdings plc R.E.A. Holdings plc: Statement re bank financing

R E A HoldingsAnnouncement

24/06/2021 07:05

============

   R.E.A. Holdings plc (RE.)
   R.E.A. Holdings plc: Statement re bank financing

   24-Jun-2021 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   R.E.A. Holdings plc ("REA" or the "company")

   Statement re bank financing

    

   REA is pleased to announce that discussions between its subsidiary, PT REA
   Kaltim Plantations ("REA Kaltim"), and the group's Indonesian bankers, PT
   Bank Mandiri (Persero) Tbk ("Mandiri") have been successfully concluded
   with an agreement that the Indonesian rupiah denominated loan and working
   capital facility currently provided by Mandiri to REA Kaltim will be
   replaced with two new loans and a new working capital facility,
   denominated in Indonesian rupiah.  Completion of this agreement remains
   subject to satisfaction of a number of technical conditions and is
   expected to occur within a few weeks.

   The outstanding principal amount of the existing Mandiri loan to REA
   Kaltim is Rp 868 billion ($60.4 million), repayable over five years, while
   the replacement loans will together amount to Rp 1,170 billion ($81.4
   million), repayable over eight years.  The working capital facility will
   be reduced from Rp 70 million ($4.9 million) to Rp 30 million ($2.1
   million).  Security for the new loans and working capital facility will be
   similar to that for the existing loan and working capital facility (and
   will include a continuing guarantee from REA).  The interest rate on the
   new loans and working capital borrowings will be fixed on drawdown but
   should be no higher than the interest rate of 10 per cent per annum
   payable on the existing term loan and working capital borrowings.

   Proposals for replacement of the existing Mandiri term loan to REA's
   subsidiary, PT Sasana Yudha Bhakti continue to advance through the bank's
   approval process.

    

    

   Enquiries:

    

   R.E.A Holdings plc

   Tel: 020 7436 7877

    

    

   ══════════════════════════════════════════════════════════════════════════

   ISIN:          GB0002349065
   Category Code: MSCH
   TIDM:          RE.
   LEI Code:      213800YXL94R94RYG150
   Sequence No.:  113201
   EQS News ID:   1211378


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    1 fncls.ssp?fn=show_t_gif&application_id=1211378&application_name=news&site_id=reuters8

References

   Visible links


============