28th Oct 2014 08:38
LONDON (Alliance News) - MartinCo PLC on Tuesday said it has signed a new financing deal which will back the planned expansion of its business.
The property group said it has entered a GBP5 million, five-year secured term-loan facility with Santander UK PLC. The company said the new facility will provide additional flexibility to grow its business.
"We are delighted to have secured the support of Santander and to have signed this credit facility. This will enable us, with our strong balance sheet, to deliver the significant growth we have planned, including our target of 10,000 additional properties under management within two years of listing," said MartinCo Chief Financial Officer David Raggett.
MartinCo shares were untraded on Tuesday, quoted at 111.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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