25th Jan 2016 09:31
LONDON (Alliance News) - Castle Street Investments PLC on Monday said it has secured new bank facilities with the Royal Bank of Scotland PLC.
The new facilities comprise a five-year GBP7 million revolving credit facility available until January 22, 2021, and a GBP2 million overdraft facility which is renewable annually.
In addition, the revolving credit facility contains an accordion feature which allows the total facility to be increased by up to a further GBP10 million.
The new facilities will augment Castle Street's existing cash resources, the company said, while enabling it to support its organic and acquisition growth initiatives.
Shares in Castle Street were trading up 6.7% at 36.83 pence on Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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