LONDON (Alliance News) - LSL Property Services PLC on Thursday said it has extended its existing GBP100.0 million banking facility until May 2020, replacing the existing maturity date of August 2017.
The residential property services provider said its extended facility comprises of a committed GBP100.0 million revolving credit facility and incorporates "more favourable terms" for LSL.
The facility continues to be provided by the same syndicate of four bankers, Barclays Bank PLC, HSBC Bank PLC, Lloyds Bank PLC and Santander UK PLC.
"The extended facility supports LSL's strategy of delivering long-term shareholder value by building market leading positions in residential property services through organic growth and selective acquisitions," said Chief Executive Ian Crabb.
Shares in LSL were untraded on Thursday, having last traded at 303.25 pence.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Lsl Prop (LSL)