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Conygar Investment Company PLC announced on 21 March 2025 the completion of a debt facility restructuring. This restructuring, concerning a development loan from Barclays Bank PLC to a wholly owned subsidiary, extends the final repayment date from 23 March 2025 to 23 December 2025. The total facility amount was reduced from £47.5 million to £46.6 million, the interest rate margin from 3.25 per cent to 2.0 per cent, and a £0.5 million exit fee was included.
| Date | 21 Mar 2025 |
| Time | 10:44:47 |
| Category | Miscellaneous |
| ID | 6905B |
21 March 2025
THE CONYGAR INVESTMENT COMPANY PLC
Debt facility restructuring
The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces the completion of its debt facility restructuring in connection with the development loan provided by Barclays Bank PLC ("Barclays") to a wholly owned subsidiary of the Company. The restructuring extends the final repayment date for the loan from 23 March 2025 to 23 December 2025. This will enable the further letting and stabilisation of Winfield Court, the student accommodation development at The Island Quarter site in Nottingham, provided as security for the loan.
In addition, the total facility amount will be reduced from £47.5 million to £46.6 million and the interest rate margin payable on the loan reduced from 3.25 per cent to 2.0 per cent to be offset by the inclusion of a £0.5 million exit fee.
Robert Ware, Chief Executive of Conygar, commented:
"We are delighted to have extended the development loan facility with Barclays which will enable the further letting and better stabilisation of our student accommodation development for the 2025-2026 academic year.
Enquiries:
The Conygar Investment Company PLC
Robert Ware, David Baldwin: 020 7258 8670
Panmure Liberum Limited (nominated adviser and broker)
Chris Clarke, Jamie Richards: 020 3100 2000
Temple Bar Advisory (public relations)
Alex Child-Villiers: 07795 425580
Sam Livingstone: 07769 655437