28th Sep 2018 09:39
LONDON (Alliance News) - Morgan Advanced Materials PLC on Friday said it has replaced its prior financing agreement, which was due to mature in October 2019, with a new facility.
The ceramics and composites manufacturer said its new credit facility matures in 2023 and has a value of GBP200 million. It can be extended by up to two years, though each year must be agreed separately and is subject to the bank's discretion.
The loan is secured on terms "substantially equivalent" to the previous financing agreement.
Shares in Morgan Advanced were up 0.4% at 333.80 pence on Friday.
Related Shares:
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