18th Dec 2023 15:51
Panther Securities PLC - London-based property investor - Confirms credit approval for proposed refinancing of its facilities from both of its joint-lenders. The new facility is for GBP68 million split betwen a GBP55 million term loan and GBP13 million revolving facility. Says this gives the company more flexibility. The new facility has been agreed for a four-year term with a further one-year option to extend. Says the agreed terms show an improved interest margin for the company, relative to its current loan facility, with similar covenants. Expects to complete the new facility in the new year. The current loan facility expires in July 2024.
Current stock price: untraded at 295.00p
12-month change: Unchanged
By Greg Rosenvinge, Alliance News senior reporter
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