Minerva Equity Limited - 31 March 2019 Final 19.08.2019 - Flipbook - Page 50
Minerva Equity Limited (formerly DMWSL 881 Limited)
Notes to the financial statements
for the period ended 31 March 2019 (continued)
19 Loans and other borrowings
At 31 March 2019
Unamortised
Gross outissue
standing
costs
£m
£m
2019
Total
£m
Loans and other borrowings
Senior loan B
Revolving Facility
(325.0)
(30.0)
(355.0)
Loan notes
Finance leases
Total loans and other borrowings
Less: amounts included in creditors
falling due within one year
Loans and other borrowing due after
more than one year
11.1
11.1
(313.9)
(30.0)
(343.9)
(180.2)
-
(180.2)
(20.3)
-
(20.3)
(555.5)
11.1
(544.4)
36.0
(1.8)
34.2
(519.5)
9.3
(510.2)
A new senior loan facility was entered into in July 2018.
The outstanding loans, maturity dates and interest rates are shown below:
(a)
Senior facility loan B – repayable on 30 July 2025. The loan bears interest at LIBOR plus a
margin of 5%.
(b)
Revolving facility – repayable on 30 January 2025. The loan bears interest at LIBOR plus a
margin of 3.25%
(c)
There are floating to fixed interest rate hedges in place covering £195.0 million of principal.
These hedges expire on 26 July 2021. The fair value of the interest rate hedges at 31
March 2019 is (£0.9) million.
LIBOR is the London Inter Bank Offer Rate.
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