Extension to banking facility

RNS Number : 9976X

LSL Property Services

12 May 2016

 

For immediate release

12 May 2016

LSL Property Services plc ("LSL")

Extension to banking facility

LSL, a leading provider of residential property services incorporating both estate agency and surveying businesses, announces that it has extended its existing £100 million banking facility until May 2020.  This replaces the existing maturity date of August 2017. 

The extended facility comprises a committed £100 million revolving credit facility and incorporates more favourable terms for LSL. The facility continues to be provided by the existing syndicate of four banks; Barclays Bank PLC, HSBC Bank plc, Lloyds Bank Plc and Santander UK Plc.

Ian Crabb, LSL Group Chief Executive Officer, commented:

"We are pleased with the continued support shown by our banking partners. The extended facility supports LSL's strategy of delivering long-term shareholder value by building market leading positions in residential property services through organic growth and selective acquisitions."

For further information, please contact:

Ian Crabb, Group Chief Executive Officer
Adam Castleton, Group Chief Financial Officer
LSL Property Services plc	0207 382 0360
Richard Darby, Sophie McNulty, Sophie Cowles Buchanan	0207 466 5000

Notes on LSL:

LSL is a leading provider of residential property services to its key customer groups.  Services to consumers include: residential sales, lettings, surveying, conveyancing and advice on mortgages and non-investment insurance products. Services to mortgage lenders include: valuations and panel management services, asset management and property management services. For further information, please visit LSL's website: www.lslps.co.uk

 

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