viewDuke Royalty Ltd

Duke Royalty Limited - Paydown of Revolving Credit Facility

RNS Number : 0613S
Duke Royalty Limited
04 November 2019

4 November 2019


Duke Royalty Limited

("Duke Royalty", "Duke" or the "Company")

Paydown of Revolving Credit Facility


Further to completion of its recent fundraising, Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, announces that it has paid down the outstanding balance of its new revolving credit facility ("New Credit Facility") from £11.65 million to zero.

As announced on 10 September 2019, the Company's New Credit Facility of £30 million, provided by Honeycomb Investment Trust PLC, enables Duke to benefit from material annual interest savings (one-month UK LIBOR plus 7.25% (previously +9.5%)).

When utilising the accordion provision, the New Credit Facility provides the Company with material additional headroom of a further £20 million, enabling access to total capital of up to £50 million under the facility, subject to loan thresholds. 

Neil Johnson, CEO of Duke Royalty, said:

"Taking the net proceeds of the fundraising together with the substantial capital available under the New Credit Facility, Duke is well placed to execute its strategy. 

"Paying down the outstanding balance of the new revolving credit facility was a key commitment of our recent fundraising, so I am delighted to report this milestone which saves interest and reduces the inefficiencies of idle cash on our balance sheet. We look forward to continuing to diversify our portfolio through investing in new royalty partners as well as follow-on investments into existing partners."



For further information, please contact www.dukeroyalty.com, or contact:


Duke Royalty Limited

Neil Johnson / Charlie Cannon Brookes


+44 (0) 1481 741 240

Cenkos Securities plc 

(Nominated Adviser and Broker)


Julian Morse / Michael Johnson / Stephen Keys / Callum Davidson

+44 (0) 207 397 8900

Newgate Communications


Elisabeth Cowell/ Ian Silvera/ Megan Kovach

+44 (0) 20 3757 6882

About Duke Royalty


Duke Royalty Limited provides alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad. Duke Royalty's experienced team provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business. Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders. Duke Royalty is listed on the AIM market under the ticker DUKE and is headquartered in Guernsey.




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Quick facts: Duke Royalty Ltd

Price: -

Market: AIM
Market Cap: -

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


3 min read