TIDMTT.

RNS Number : 9125D

TUI Travel PLC

03 April 2014

3 April 2014

TUI Travel PLC signs new bank Credit Facility

   --     Signing of a new GBP1.4bn bank Credit Facility, including letters of credit 
   --     Oversubscribed, demonstrating continued strong backing from relationship banks 
   --     Underpins TUI Travel's debt maturity profile

TUI Travel PLC (the "Company"), one of the world's leading leisure travel groups, is pleased to announce that it has refinanced its banking facilities with the signing of a new GBP1.4bn bank Credit Facility, including letters of credit, maturing in June 2018.

The new facility was agreed on competitive terms and substantially extends the Company's debt maturity profile, providing the Company with valuable flexibility in respect of its other debt facilities and upcoming maturities. The demand for participation in the transaction resulted in it being oversubscribed, demonstrating continued strong backing from the Company's relationship lenders. The covenants remain unchanged.

Will Waggott, Chief Financial Officer of TUI Travel PLC, said:

"We are pleased to announce the signing of this new Credit Facility which improves the strength and flexibility within our balance sheet. We appreciate the continued strong support from our relationship banks."

-ends-

Enquiries:

 
 Analysts & Investors 
 Andy Long, Director of Strategy & Investor        Tel: +44 (0)1293 645 795 
  Relations 
 Tej Randhawa, Investor Relations Manager          Tel: +44 (0)1293 645 829 
 Sarah Coomes, Investor Relations Manager          Tel: +44 (0)1293 645 827 
 
 
   Media 
 Lesley Allan, Corporate Communications Director   Tel: +44 (0)1293 645 790 
 Tress Wilson, External Communications             Tel: +44 (0) 7791 340 
                                                    909 
 Michael Sandler (Hudson Sandler)                  Tel: +44 (0) 20 7796 4133

NOTES TO EDITORS

TUI TRAVEL PLC

TUI Travel PLC is one of the world's leading international leisure travel groups operating in approximately 180 countries worldwide. It serves more than 30 million customers in over 31 source markets. Headquartered in the UK, the Group employs approximately 55,000 people and operates a pan-European airline group consisting of 138 aircraft. The Company is organised and managed through three principal business Sectors: Mainstream, Specialist & Activity and Accommodation & Destinations. In the financial year ended 30 September 2013 TUI Travel had revenues of GBP15.1bn and an underlying operating profit of GBP589m.

TUI Travel is listed on the London Stock Exchange as a member of the FTSE 100 and FTSE4Good Indices.

For more information visit: www.tuitravelplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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