20 Jul 2015 07:00
20 July 2015
WYG plc
New bank facility
WYG plc ("WYG"), the global programme, project management and technical consultancy, is pleased to announce the signing of a new £25 million multicurrency revolving credit facility ("RCF") with HSBC bank plc.
The RCF, which replaces WYG's existing trade finance facility with Santander Bank, extends committed facilities to WYG for five years. It has a £10 million sub limit for bonding and the ability to flex between bonding and revolving credit.
Paul Hamer, Chief Executive Officer, WYG said:
"We are delighted to have secured this new facility with HSBC which not only provides WYG with additional working capital headroom but, more importantly, can be used as a catalyst to accelerate growth, both organic and acquisitive."
Wayne Shadlock, Relationship Director, HSBC said:"We have a strong appetite to support ambitious businesses, and WYG is an international business looking to grow. We are pleased they have chosen us to be part of this exciting period, helping them take forward their growth plans."
ENDS
WYG plc Tel: 0113 278 7111
Paul Hamer, Chief Executive Officer
Sean Cummins, Group Finance Director
MHP Communications Tel: 020 3128 8100
John Olsen / Katie Hunt / Ollie Hoare
N+1 Singer Tel: 020 7496 3000
Sandy Fraser / Nick Owen
WH Ireland Limited Tel: 0113 394 6600
Andrew Kitchingman / Liam Gribben