New £25 million (Tier 2 qualifying) loan
3 June 2019
ARBUTHNOT BANKING GROUP PLC
New loan facility of £25 million
Increase in Tier 2 Regulatory Capital
Arbuthnot Banking Group PLC ("ABG", "the Company" or "the Group") announces that it has today completed a private issue of a sub-ordinated loan (the "Loan") on a bilateral basis with Proventus Capital Partners a Swedish Debt Fund to raise £25,000,000 before fees and expenses.
The loan has been fully drawn and will be classified as Tier 2 for regulatory capital purposes. The proceeds will support the continuing long term growth of the Group and in particular the ongoing diversification of its wholly owned bank, Arbuthnot Latham & Co., Limited.
The Loan matures on 3 June 2029 but can be repaid by ABG after the fifth anniversary. Interest is payable on the loan at the rate of 7.75% plus LIBOR or its replacement benchmark rate.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014). Upon the publication of this announcement, this inside information is now considered to be in the public domain.
The directors of the Company accept responsibility for the contents of this announcement.
Arbuthnot Banking Group plc
020 7012 2400
Sir Henry Angest, Chairman and Chief Executive
Andrew Salmon, Group Chief Operating Officer
James Cobb, Group Finance Director
Grant Thornton (Nominated Adviser and NEX Exchange Corporate Adviser)
020 7383 5100
Numis Securities Ltd (Joint Broker)
020 7260 1000
Shore Capital (Joint Broker)
020 7408 4090
Maitland (Financial PR)
020 7379 5151
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