24 April 2017
Scotiabank £25m bridge facility - extension of term
UIL Limited ("UIL" or the "Company") is pleased to announce that it has extended its £25 million senior secured multicurrency bridge facility with Scotiabank Europe PLC ("Scotiabank") by two months until 24 June 2017.
The Company entered into this facility in October 2016 prior to the redemption of the 2016 ZDP shares. The bridge facility was fully drawn at the end of March 2017 as NZ$43.75 million. On 13 April 2017 UIL repaid NZ$8.75 million reducing the drawings to NZ$35.0 million (£19.2m at current exchange rates of 1.827).
For further information please contact:
ICM Investment Management Limited
This information is provided by RNS