Revised Loan to Value Covenants

    RNS Number : 0679G
  Warner Estate Holdings PLC
  17 October 2008
   

    Warner Estate Holdings PLC ("Warner Estate" or "Group")

    Revised Loan to Value Covenants
In the Interim Management Statement on 14th August 2008, Warner Estate reported the renewal of �60million of revolving borrowing facilities
for three years and the increase in the loan to value covenant on a further �100million of facilities to 80%. Warner Estate announces today
that it has renegotiated another Group bank facility with the effect that the loan to value covenants for its combined facilities of
�415million now average 79% compared to 75% at 31st March 2008.
    The impact of the terms arising from the renegotiation of these facilities on the Group's recurring profit will be offset by future
reductions in LIBOR.
    Cash collection continues to improve with 96.4% of the September 2008 quarter day rents collected within 14 days compared to 94.9%
collected for the June 2008 quarter day.

    - ends - 
    Date: 17 October 2008

 Warner Estate Holdings PLC          City Profile
 Philip Warner, Chairman             Jonathan Gillen
 Peter Collins, Finance Director     Simon Courtenay
 Michael Stevens, Property Director  Tel: 020-7448-3244
 Tel: 020-7907-5100
 Web:  www.warnerestate.co.uk


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MSCUNVNRWKRRAAA

Wt Wner Usd (LSE:WNER)
과거 데이터 주식 차트
부터 8월(8) 2024 으로 9월(9) 2024