Energy Assets Group Strikes Deal To Increase Lombard Facility

LONDON (Alliance News) - Energy metering company Energy Assets Group PLC on Tuesday said it has struck a deal to increase its existing credit facility with Lombard by GBP10.0 million.

The increase to the facility with Lombard, the asset finance arm of The Royal Bank of Scotland Group PLC, brings Energy Assets' total debt funding available to GBP110.0 million across three facilities. The Lombard facility now stands at GBP70.0 million.

"I am delighted to announce the recent extension of the group's funding facilities with two of our main funding partners, Lombard and Bank of Scotland, which further strengthens our ability to achieve our strategy of growing the Energy Assets I&C meter portfolio," said Chief Financial Officer John McMorrow. I&C refers to industrial and commercial.

Energy Assets shares were up 0.2% to 514.05 pence on Tuesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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