29th Apr 2015 09:05
LONDON (Alliance News) - Luxury hostel operator Safestay PLC Wednesday said it has secured a GBP1 million loan facility with Coutts & Co, a unit of The Royal Bank of Scotland Group PLC, funding it will use to settle GBP1.024 million in loan notes issued to part-fund the acquisition of the company's York hostel that are due for repayment on May 23.
The loan is secured against Safestay's York hostel and is repayable over fiveyears, with interest charged at London Interbank Offered Rate plus 3.25%, the company said.
Shares in Safestay were up 0.1% to 70.59 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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