8th Dec 2015 13:27
LONDON (Alliance News) - Property developer Market Tech Holdings PLC on Tuesday said it has agreed a GBP900.0 million senior secured debt facility with AIG Asset Management (Europe) Ltd.
The facility includes a GBP300.0 million term loan which will be drawn down immediately, with another GBP100.0 million to be drawn in May 2016, plus GBP50.0 million which can be drawn down until December 2017.
Two further drawdown pools of GBP150.0 million and GBP300.0 million are included in the facility.
"The facility provides the company with stable long0term funding, enabling us to drive shareholder value by delivering on our medium and long term acquisition and development strategy," said Charles Butler, Market Tech chief executive.
Shares in Market Tech were up 1.1% to 216.29 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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