24 Jan 2011 07:00
| 24 January 2011 |
Redhall Group plc
("Redhall" or the "Group")
New Debt Facilities Agreed
Redhall is pleased to announce that it has signed an agreement with HSBC to provide a total of £25 million in banking facilities ("the Facilities"). £20 million of the Facilities are committed until January 2015 and replace the Group's existing £14 million committed facilities which would have expired in April 2012. £5m is provided through an overdraft facility.
The Facilities will be used for general corporate purposes. The margin and fees payable are competitive in the current environment and are broadly comparable to the Group's existing arrangements.
David Jackson, Executive Chairman of Redhall, commented:
"We are delighted to enter into this new relationship with HSBC and welcome their commitment to the future growth of Redhall. This new four year facility is a testament to the balance sheet strength that we have created over the last five years and provides a platform to take the Group to a new level."
For more information please contact:
Redhall Group plc David Jackson, Executive Chairman Simon Foster, Group Chief Executive John O'Kane, Group Finance Director
| Tel: +44 (0)1924 385 386 |
Buchanan Communications | Tel: +44 (0) 20 7466 5000 |
Tim Anderson / Isabel Podda |
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Altium, Financial Advisers and Brokers to Redhall Phil Adams / Simon Lord / Paul Lines | Tel : +44 (0) 845 505 4343 |