16th Apr 2019 12:50
LONDON (Alliance News) - Asset pricing services provider StatPro Group PLC said on Tuesday it has increased and extended its financing facilities to GBP49.1 million.
The facilities will Wells Fargo Capital Finance has been increased by GBP5.2 million in committed facility and GBP6 million of uncommitted capital.
The total facilities comprise of a GBP10 million committed revolving credit facility, GBP29.1 million in multi currency loans and GBP10 million in an uncommitted additional facility.
Also, the term for the committed facility has been extended to April 2024 subject to compliance with agreed covenants.
"This increase and extension in our flexible financing facilities provide additional capacity for financing future acquisitions and also further strengthens the group's long-term financial structure," said Chief Executive Justin Wheatley.
Shares in StatPro were up 4.4% at 118.00 pence on Tuesday.
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