LONDON (Alliance News) - Interserve PLC said Friday it has reached an agreement on the major commercial terms of it refinancing with its lenders and bond providers.
The new financial agreements are subject to the satisfaction of certain remaining conditions but the company expects them to be satisfied before Monday.
The new facilities will provide Interserve with cash facilities of GBP196.6 million plus bonding facilities of up to GBP94.5 million. These new facilities will mature in 2021.
Interserve said it will also be issuing warrants to the providers of the new cash and bonding facilities to buy shares at 10.00 pence each.
Interserve shares closed down 3.7% Friday at 107.20p each.
