Re New Loan Facilities
Sep 21, 2005 5:33 PM
R.E.A.Hldgs PLC
21 September 2005
R.E.A. Holdings plc ("REA") announces that its subsidiary, PT REA Kaltim
Plantations ("REA Kaltim"), has now concluded negotiation of new loan facilities
in Indonesia. The negotiation, which has been in progress for over a year and of
which shareholders have been previously advised (most recently in the prospectus
(the "Prospectus") issued by REA on 17 August 2005), has resulted in an
agreement between REA Kaltim and a consortium of three banks for the provision
by the banks to REA Kaltim of new loan facilities totalling $45 million
(currently equivalent to £25 million). The new facilities have been guaranteed
by REA. An initial $38 million has been drawn down and, as foreseen in the
Prospectus, has been principally applied in repaying all former REA Kaltim third
party indebtedness other than $3.5 million (currently equivalent to £1.9
million) under a working capital facility which has been renewed.
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