July 1, 2020 / 6:22 AM / a day ago

BRIEF-Hammerson Gets Approval For Issue Of Up To £300 Mln Under Covid Corporate Financing Facility

July 1 (Reuters) - Hammerson PLC:

* HAMMERSON - RECEIVED APPROVAL FOR ISSUANCE OF UP TO £300M UNDER COVID CORPORATE FINANCING FACILITY

* HAMMERSON - AS AT 29 JUNE 2020, COMPANY HAD COLLECTED 73% OF H1 2020 RENT IN UK, 53% IN FRANCE AND 72% IN IRELAND

* HAMMERSON - TO FURTHER ENHANCE CASH RESERVES AN ADDITIONAL £300M HAS BEEN DRAWN ON ITS REVOLVING CREDIT FACILITIES

* HAMMERSON - AS AT 29 JUNE 2020, COLLECTED 16% OF Q3 RENT IN UK, WHILE IT IS TOO EARLY TO COMMENT ON FRANCE AND IRELAND

* HAMMERSON - CONFIDENT THAT COLLECTION RATES WILL CONTINUE TO IMPROVE MATERIALLY IN ALL REGIONS AS AGREEMENTS ARE PROGRESSED WITH BRANDS Source text for Eikon: Further company coverage:

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