13 Feb 2017 13:19
13 February 2017
Hayward Tyler Group plc
("Hayward Tyler", the "Company" or "Group")
Successful completion of loan note raise
Hayward Tyler Group plc ("HTG", the "Company" or "Group"), the specialist engineering Group, comprising the operating companies of Hayward Tyler and Peter Brotherhood, is pleased to announce the successful completion of its latest loan note issue at £0.6m. The loan notes carry a 1-year term and pay interest at 6.75%. Proceeds of this issue will be used to reduce the Company's revolving credit facility ("RCF") with Royal Bank of Scotland ("RBS") by £0.6m.
The Group continues to have a supportive relationship with RBS, which has now agreed to extend the repayment date of the remaining balance of the £2.4m short term borrowings under the RCF to 28 February 2017.
Further updates regarding the repayment of the £2.4m short term borrowings will be made in due course.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
For further information:
Hayward Tyler Group plc +44 (0)1582 731 144
Ewan Lloyd-Baker, CEO
Nick Flanagan, CFO
FinnCap Limited-NOMAD and Broker +44(0)20 7220 0500
Matt Goode / Emily Watts, Corporate Finance
Tim Redfern / Tony Quirke, Corporate Broking
Lesmoir-Gordon, Boyle & Co. Ltd - loan note arrangers +44 (0) 20 7518 9892
Andrew Boyle
Angus Grierson
Buchanan Communications, Financial PR +44(0)207 466 5000
Charles Ryland
Chris Judd
Jane Glover