RNS Number:9472N
Northgate PLC
15 December 2006


15 December 2006



Northgate plc

US Private Placement



Northgate plc ('Northgate' or the 'Group'), the leading commercial vehicle hire
company in the UK and Spain, today announced that it is issuing approximately
175 million of senior guaranteed loan notes into the US Private Placement debt
market. Notes were issued on 14 December 2006 in both US dollars ($245 million)
and UK sterling (21 million) with further notes scheduled to be issued in US
dollars ($50m) in January 2007. The notes are fixed rate and unsecured, with a
maturity of 7 and 10 years. The proceeds of the issue are being applied to
reduce the Group's existing bank debt.


The placement extends the maturity profile of Northgate's debt facilities whilst
taking advantage of favourable longer-term UK sterling interest rates.

After swapping US fixed interest rates into UK sterling fixed interest rates,
the weighted average interest rate payable by the Group on these notes is
approximately 5.78%.


The reduction of Northgate's existing bank debt has no transactional costs under
the terms of the facilities and creates capacity to fund the Group's continued
growth.


Northgate's interim results will be announced on 9 January 2007.


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For further information, please contact:

Northgate plc                                      Tel: 01325 467558
Steve Smith, Chief Executive Officer
Gerard Murray, Group Finance Director


Hogarth Partnership Limited                        Tel: 0207 357 9477

Andrew Jaques
Barnaby Fry
Anthony Arthur



Further information regarding Northgate can be found on the Group's website:
http://www.northgateplc.com






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            The company news service from the London Stock Exchange

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