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Pin to quick picksHarland & Wolff Share News (HARL)

Share Price Information for Harland & Wolff (HARL)

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Share Price: 9.60
Bid: 9.20
Ask: 10.00
Change: -0.10 (-1.03%)
Spread: 0.80 (8.696%)
Open: 9.75
High: 9.65
Low: 8.75
Prev. Close: 9.75
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Harland & Wolff gets go-ahead to negotiate £200m loan facility

Fri, 29th Dec 2023 13:15

(Sharecast News) - Harland & Wolff Group has received permission from ministers to proceed with negotiations for a proposed £200m guaranteed loan facility with UK Export Finance (UKEF) under the Export Development Guarantee Scheme, it announced on Friday.

The AIM-traded firm said that to ensure compliance with regulations, UKEF would appoint an independent third party in January to determine an appropriate premium over SONIA.

That step was described as crucial as UKEF planned to provide a 100% guarantee to UK commercial lending banks.

With ministerial approval to advance negotiations, Harland & Wolff said it would finalise the bank syndicate and designate a lead arranger.

At the same time, the company would begin the necessary documentation for credit and guarantee agreements, as well as the security package to be offered.

The security package was likely to involve granting the banks a first charge on substantially all of the company's assets, similar to the arrangement with Riverstone Credit Partners in March 2022.

However, the transaction remained subject to ministerial agreement, final financing terms approval, and investment committee approvals from the banks.

Notably, there were no plans to issue warrants to the banks or UKEF.

Harland & Wolff said it believed it had sufficient funds to cover its working capital needs until the new loan facility was finalised, thanks to a combination of cash currently on the balance sheet and expected cash flows from existing contracts in 2024.

Reporting by Josh White for Sharecast.com.

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15 May 2024 20:26

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6 Mar 2024 14:12

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5 Mar 2024 17:09

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29 Dec 2023 10:45

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29 Dec 2023 10:14

Harland & Wolff gets approval for UKEF GBP200 million credit facility

(Alliance News) - Harland & Wolff Group Holdings PLC on Friday said it had received ministerial approval for a new credit facility with UK Export Finance.

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21 Dec 2023 16:34

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30 Nov 2023 16:45

Harland & Wolff says accounting change could see some revenue deferred

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Isles of Scilly Steamship rejects takeover approach by Harland & Wolff

(Alliance News) - Isles of Scilly Steamship Co Ltd on Friday announced that it unequivocally rejected a preliminary approach from Harland & Wolff Group Holdings PLC.

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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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(Alliance News) - Harland & Wolff Group Holdings PLC on Wednesday said it has signed a deal with Austal Ships Pty Ltd for technology transfer for the development of next-generation aluminium vessels.

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