23rd Oct 2015 06:58
LONDON (Alliance News) - Premier Technical Services Group PLC on Friday said it has secured new banking facilities with HSBC.
The niche specialist services company said it has secured a GBP7.0 million five-year revolving credit facility which will replace its existing term loan and has agreed a GBP2.5 million overdraft facility with the lender.
"The new banking facilities strengthen our financial position, extend the group's debt maturities and refinance our existing term loan of GBP3m. The RCF will help underpin our strategy to generate significant shareholder value through organic growth and complementary acquisitions," said Paul Teasdale, Premier Technical's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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