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

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