Marlowe secures new debt facility

(Sharecast News) - Support services group Marlowe has signed a new, enlarged revolving credit facility with HSBC and National Westminster Bank.The new facility replaces the existing £18m facilities and comprises a three-year £30m revolving credit facility and an additional £15m accordion facility.As at 30 September, Marlowe, which focuses on acquiring and developing companies that provide critical testing and maintenance services, had net cash of £4.9m.Marlowe said the enlarged debt facility will provide further resources to support its acquisition-led growth strategy.At 1040 GMT, the shares were up 3.5% to 420.12p.