Harland & Wolff Group Holdings PLC - Belfast-based specialist in ship repair, conversion and offshore construction - Enters USD70 million green term loan facility, which will go towards supporting its working capital and expenses for the fabrication of wind turbine generator jackets for the NnG offshore wind project.
Facility will be split into two tranches, comprising a committed facility of USD35 million, and an accordion facility of up to USD35 million.
The facility matures on September 9, 2023 with an interest rate of the Secured Overnight Financing Rate plus 9% per annum. Company can elect to extend the maturity date by six months up to three times.
Current stock price: 16.00 pence, up 12%
12-month change: down 57%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Harland & Wolff (HARL)