LONDON, April 22 (Reuters) - Shaftesbury Plc
* Announces 15 year loan with Canada Life Investments
* Completion of refinancing with Lloyds Banking group
* Arranged a new £134.75 million fifteen year term loan with Canada Life Investments
* Loan has a fixed interest rate throughout the term. The loan is repayable in full at maturity in May 2029
* The company will cancel its £100 million revolving credit facility with Bank of Scotland, which was due to expire in September 2016
* Part of the proceeds of CLI loan will be applied to repaying drawings under the BoS facility and meeting the cost of terminating £110 million of interest rate swaps entered into with BoS.
* The cost of terminating those swap arrangements amounted to £29.0 million, equivalent to 10p per share
* The company’s revolving credit facility with Lloyds Bank, which matures in November 2018, will be increased by £25 million to £150 million
* A £30 million short-term credit facility entered into with Lloyds in February 2014 has now been cancelled Source text for Eikon: Further company coverage: <SHB.L.