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Gusbourne PLC - Ashford, England-based sparkling wine producer - Completes refinancing of debt arrangements held with PNC Financial Services UK Ltd and a company associated with Lord Ashcroft, through issue of a new GBP20 million long-term secured deep discount bond. New deal is with a company also associated with Lord Ashcroft, Moongate Holdings Group Ltd. Explains that the GBP20 million proceeds have been used to repay the existing PNC Facility amounting to GBP16.3 million, and repay the short-term unsecured loan of GBP1.5 million plus related fees and expenses of GBP0.6 million. Remaining proceeds will be used for working capital and to support Gusbourne's ongoing growth strategy. Financing issued at a discount of 7.75% per year on quarterly rests.
Current stock price: 73.10 pence
12-month change: up 3.0%
By Jeremy Cutler, Alliance News reporter
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