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254.00    -1.00 (-0.39%)
Bid:
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Spread: 2.00 (0.791%)
Market Cap: £339.42m
RST Live PriceLast checked at - London Stock Exchange

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Debt Refinancing

29 Jun 2011 07:00

RNS Number : 3120J
Restore PLC
29 June 2011
 



Restore plc

("Restore" or "The Company")

Refinancing Agreement

Restore plc, the AIM listed UK Services Group, today announces that it has signed a new finance facility with Barclays Bank plc. The main details of the new facility are:

·; A 5 year Term Loan for £11 million at 2.85% over 3 month LIBOR. The repayment period is 10 years with quarterly payments commencing June 2012

·; A 3 year Revolving Credit Facility for £3 million at 3.5% over 3 month LIBOR

·; An overdraft, on demand, facility of £2 million at 3% over 3 month LIBOR

Commenting on the agreement Harvey Samson, Finance Director of Restore plc said: "Restore is a profitable business with excellent growth prospects and good quality of earnings. We are delighted to have put in place these new financing arrangements which enable us to continue our strategy of growth both organically and by acquisition."

 

For further information, please contact:

 

Restore plc

Charles Skinner, Chief Executive

Harvey Samson, Finance Director

Tel: 07966 234 075

Tel. 07836 658448

 

Cenkos Securities

Nicholas Wells / Elizabeth Bowman

Tel: 020 7397 8900

 

Threadneedle Communications

John Coles

Tel: 020 7653 9848

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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AGRGMGZVNRMGMZM
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29th Jul 202110:10 amRNSForm 8.5 (EPT/NON-RI)
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28th Jul 20212:28 pmRNSForm 8.3 - Restore PLC
28th Jul 20211:50 pmRNSForm 8.3 - MARLOWE PLC

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