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BRIEF-Shaftesbury ‍cancels remaining 125 mln pounds of legacy interest rate swaps ​
September 25, 2017 / 6:18 AM / a month ago

BRIEF-Shaftesbury ‍cancels remaining 125 mln pounds of legacy interest rate swaps ​

Sept 25 (Reuters) - SHAFTESBURY PLC:

* ‍CANCELED ITS REMAINING £125 MLN OF LEGACY INTEREST RATE SWAPS AT A COST OF £57.9 MILLION, EQUIVALENT TO A REDUCTION IN EPRA NAV OF 21 PENCE PER SHARE​

* CO NOW HAVE CIRCA. £305 MLN OF RESOURCES AVAILABLE TO INVEST FURTHER IN OUR PORTFOLIO​

* ‍BLENDED COST OF DEBT HAS REDUCED, ON A PRO-FORMA BASIS, BY 40 BASIS POINTS TO 3.3%​

* ‍MARGINAL COST OF FUTURE BORROWING IS 1.1% SO, ON A FULLY DRAWN BASIS, OUR WEIGHTED AVERAGE COST OF DEBT WOULD FALL TO 2.8%​

* ‍WEST END HAS BEEN BUSY THROUGHOUT SUMMER, WITH A NOTABLE INCREASE IN OVERSEAS VISITORS​

* ‍DEMAND FOR SMALLER ACCOMMODATION WE TRADITIONALLY OFFER IS GOOD​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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