LONDON (Alliance News) - Foresight Group Wednesday said the refinancing of the GBP3.5 million investment in Aerospace Tooling Corp Ltd was completed last week.
Foresight completed the refinancing on behalf of the Foresight VCT PLC, Foresight 3 VCT PLC and Foresight 4 VCT PLC venture capital funds.
Under the refinancing agreement, the GBP3.5 million investment made by the three funds has been repaid through the recapitalisation of shareholder loan notes held by the funds in Aerospace Tooling.
The repayment was funded via Foresight's existing cash reserves and by a term loan provided by HSBC Holdings PLC.
Foresight VCT shares were untraded on Wednesday, quoted at 85.25 pence; Foresight 3 VCT shares were untraded, quoted at 60.125 pence; and Foresight 4 VCT was also untraded, quoted at 43 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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