Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCIU.L Share News (CIU)

  • There is currently no data for CIU

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Cape Agrees To Amend And Extend Revolving Credit Facility

Fri, 24th Jun 2016 06:38

LONDON (Alliance News) - Industrial services firm Cape PLC Friday said it has agreed to amend and extend its existing revolving credit facility with a group of nine banks by a further GBP5 million to GBP300 million, and retaining the GBP50 million accordion feature.

The facility has a contractual maturity of June 23, 2020, extending the existing debt facility by two years, with an option to extend that facility by a further year by mutual consent.

The facility was arranged with AIB Group UK PLC, Barclays Bank PLC, DNB Bank ASA, HSBC Bank PLC, ICBC (London) PLC, Lloyds Bank PLC, National Westminster Bank PLC, DBS Bank Ltd, and the Governor and Company of the Bank of Ireland.

"We are pleased with the outcome of this amendment process. We expect the extension to provide flexibility and support our strategy for future growth. We appreciate the strong support that our lenders have shown us during this period of market uncertainty and are delighted to be both retaining existing banks and initiating relationships with new lenders," said Chief Financial Officer Michael Speakman in a statement.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
11 Mar 2015 16:12

UK Earnings, Trading Statements Calendar - Week Ahead

Read more
9 Feb 2015 09:27

Cape Establishes Joint Venture With Prezioso Linjebygg

Read more
5 Feb 2015 07:55

Cape's Azerbaijan Joint Venture Wins Shah Deniz Gas Field Deals

Read more
19 Jan 2015 09:57

UK BROKER RATINGS: Morgan Stanley Adds Tesco To 'Best Ideas'

Read more
29 Dec 2014 11:40

Cape wins contract extension with EDF Energy

Industrial services group Cape secured a five-year extension contract with EDF Energy for the supply of services to eight nuclear power stations in the UK. Cape said the "substantial" deal will see it supply access, insulation and associated services in the nuclear stations. Chief executive Joe Oat

Read more
14 Nov 2014 06:16

UK Earnings, Trading Statements Calendar - Week Ahead

Read more
13 Nov 2014 16:30

UK Earnings, Trading Statements Calendar - Week Ahead

Read more
13 Nov 2014 10:21

Thursday broker round-up.-Update

AstraZeneca: JP Morgan raises target price from 3700p to 4100p, keeping its underweight rating. AVEVA Group: Barclays upgrades to overweight. Bellway: Credit Suisse raises target price from 1876p to 1905p and keeps a neutral rating. Bow Leven: Barclays shifts target price from 45p to 50p and retai

Read more
13 Nov 2014 06:14

UK Earnings, Trading Statements Calendar - Week Ahead

Read more
12 Nov 2014 16:04

UK Earnings, Trading Statements Calendar - Week Ahead

Read more
12 Nov 2014 10:07

Cape Expects Full Year In Line With Its Hopes On Robust Order Book

Read more
12 Nov 2014 09:07

Wednesday broker round-up UPDATE

Aberdeen: UBS lowers target price from 465p to 450p and downgrades from buy to neutral. ASOS: Societe Generale reduces target price from 5000p to 4450p, while leaving its buy recommendation unchanged. BG Group: Deutsche Bank reduces target price from 1400p to 1300p and keeps a buy recommendation.

Read more
12 Nov 2014 08:02

Energy services firm Cape sees FY trading in line with view

Nov 12 (Reuters) - British energy services firm Cape Plc said performance across its key UK, Europe and CIS markets was strong, but it was partly offset by a mixed show in Asia Pacific. Cape said given the group's performance to date and the visibility over the next two months, it expected

Read more
12 Nov 2014 06:22

UK Earnings, Trading Statements Calendar - Week Ahead

Read more
11 Nov 2014 16:20

UK Earnings, Trading Statements Calendar - Week Ahead

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.