Refinancing Update
November 23 2009 - 2:00AM
UK Regulatory
TIDMTHG
RNS Number : 8895C
Terrace Hill Group PLC
23 November 2009
23 November 2009
TERRACE HILL GROUP PLC
("Terrace Hill" or the "Company")
Refinancing Update
Terrace Hill Group plc (AIM: THG), a leading UK property development and
investment group, announces that it has completed the GBP39.3 million of
refinancings which the Company announced it had agreed in principle within its
interim results statement.
GBP35.12 million of loans have been refinanced by a major European bank with a
revised maturity of 30 September 2011. The remaining portion consists of a
loan for GBP4.14 million which has been refinanced to mature in March 2013.
Commenting Philip Leech, Chief Executive of Terrace Hill, said:
"These refinancings are very positive for the Company. They underline the
strength of the relationships we have with our lending banks and their belief in
both our business strategy and our assets."
- Ends -
For further information:
Terrace Hill www.terracehill.co.uk
Philip Leech, Chief ExecutiveTel: 020 7631 1666
Oriel Securities Limited (NOMAD) Tel: 020 7710 7600
Richard Crawley
Financial DynamicsTel: 020 7831 3113
Richard Sunderland/Rachel Drysdaleterracehill@fd.com
Notes to editors:
Terrace Hill Group PLC
Terrace Hill is an AIM-listed property development and investment group with
specialist commercial development and investment and residential investment
divisions.
Formed in 1986, the Company has offices in London, Teesside, Bristol and
Glasgow, managing a commercial development programme, as well as commercial and
residential investment portfolios.
This information is provided by RNS
The company news service from the London Stock Exchange
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