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New Debt Facilities Agreed

24 Jan 2011 07:00

RNS Number : 9187Z
Redhall Group PLC
24 January 2011
 



 

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

 

 

 

Altium, Financial Advisers and Brokers to Redhall

Phil Adams / Simon Lord / Paul Lines

Tel : +44 (0) 845 505 4343

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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