Release date: 4 December 2013
Embargoed until: Immediate Release
CLS Holdings plc
("CLS", the "Company" or the "Group")
Financing of Neo Portfolio Completed
CLS Holdings plc announces that a wholly-owned subsidiary of the Company has completed the debt financing of the Group's recent acquisition of the Neo portfolio, and one additional government-occupied property, through an institutional private placement with a single UK institution. The £80 million, secured, 9-year, partially-amortising note will carry a fixed coupon of 4.171% over a weighted average term of 7 years, and will be listed.
Sten Mortstedt, Executive Chairman of CLS, commented:
"This is an innovative, flexible funding solution which adds further diversity and duration to the Group's debt profile. It is tailored to our aspirations for this portfolio, which is 99% government-occupied, and on which we are already driving some positive asset management initiatives."
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For further information, please contact:
CLS Holdings plc +44 (0)20 7582 7766
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Richard Tice, Chief Executive Officer
Liberum Capital Limited +44 (0)20 3100 2222
Tom Fyson
Charles Stanley Securities +44 (0)20 7149 6000
Mark Taylor
Kinmont Limited +44 (0)20 7087 9100
Jonathan Gray
Smithfield Consultants (Financial PR) +44 (0)20 7903 0669
Alex Simmons
This information is provided by RNS