12 November 2015

Hibernia enters €400 million Revolving Credit Facility

Hibernia REIT plc (“Hibernia”) announces that it has agreed a new €400 million revolving credit facility (the “New RCF”) with a syndicate of three banks, secured against a corporate level debenture. 

The New RCF, which has a five year term, replaces the existing €100 million facility (the “Previous RCF”) which was due to mature in August 2017.  It has a reduced margin compared to the Previous RCF and the same financial covenants.

Bank of Ireland Corporate Banking (“Bank of Ireland”) is acting as agent and Bank of Ireland, Barclays Bank Ireland PLC (“Barclays”) and Ulster Bank Ireland Limited (“Ulster Bank”) are acting as joint bookrunners and joint arrangers and participating in the following proportions: Bank of Ireland €190m, Barclays €140m and Ulster Bank €70m.

Tom Edwards-Moss, Chief Financial Officer of Hibernia, said:          

“We are delighted to have agreed this facility, continuing our relationship with Bank of Ireland and welcoming Barclays and Ulster Bank as new lenders.  This secures competitively priced and flexible financing for Hibernia for five years and will enable us to move quickly to take advantage of investment opportunities as well as to fund our development pipeline.”

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