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Future Refinances Banking Facilities With Santander UK
LONDON (Alliance News) - Future PLC Friday said it has refinanced its banking facilities, reducing its funding costs, signing a deal with Santander UK PLC.
In a statement, the media group said it has arranged a new GBP5.5m multi-currency revolving and overdraft facility ahead of the maturity of its existing facilities this coming December.
The company said the new facilities have fewer covenants, a maturity date of December 31, 2017 with options to extend to that same stage of 2019.
There is a further option to increase the total revolving facility commitment by GBP2.0 million.
Future shares were down 1.2% at 10.25 pence per share on Friday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
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