APR Energy PLC Credit facility amended (0710J)
01 Abril 2015 - 12:00AM
UK Regulatory
TIDMAPR
RNS Number : 0710J
APR Energy PLC
01 April 2015
For release: 1 April 2015
APR Energy successfully amends credit facilities
Provides increased covenant flexibility
APR Energy plc (LSE: APR) (the "Group"), a global leader in
fast-track power solutions, today announces that it has
successfully completed an amendment to its senior syndicated credit
facilities, currently comprising a $450 million revolving credit
facility and a $320 million Term Loan. The credit facility provides
funds for working capital, capital expenditures and letters of
credit, and is secured by substantially all of the assets of the
Group and the equity issued by the Group's subsidiaries.
The amendment to the credit facility provides the Group with
additional flexibility around certain covenants, most notably an
increased leverage ratio, while promoting the near-term
deleveraging of the Group. The amended credit facility will allow
the Group to continue executing upon its business strategy as it
positions for longer-term growth.
Ends
Enquiries:
APR Energy plc
Lee Munro + 1 904 404 4576
CNC Communications
Richard Campbell +44 (0) 20 3219 8800 / +44 (0) 7775 784 933
Richard Gotla +44 (0) 20 3219 8819 / +44 (0) 7904 122 207
About APR Energy
APR Energy is the world's leading fast-track mobile turbine
power business. We provide large-scale, fast-track power, providing
customers with rapid access to reliable electricity when and where
they need it. APR combines state-of-the-art, fuel-efficient
technology with industry-leading expertise to provide turnkey power
plants that are rapidly deployed, customisable and scalable.
Serving both utility and industrial segments, APR Energy provides
power generation solutions to customers and communities around the
world, with an emphasis on Africa, the Americas, Asia-Pacific and
the Middle East. For more information, visit the Company's website
at www.aprenergy.com.
Certain statements included in this announcement constitute, or
may constitute, forward-looking statements. Any statement in this
announcement that is not a statement of historical fact (including,
without limitation, statements regarding the Company's future
expectations, operations, financial performance, financial
condition and business) is or may be a forward-looking statement.
Such forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those projected or implied in any forward-looking statement.
These risks and uncertainties include, among other factors,
changing economic, financial, business or other market conditions.
Although any such forward-looking statements reflect knowledge and
information available at the date of this announcement, reliance
should not be placed on them. Without limitation to the foregoing,
nothing in this announcement should be construed as a profit
forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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