4th Jun 2015 06:52
LONDON (Alliance News) - Location intelligence services company Ubisense Group PLC on Thursday said it has signed a GBP8 million revolving credit facility with HSBC Bank PLC.
The loan, which will expire in 2018, replaces Ubisense's existing GBP5 million loan due to expire in August 2016 and will be used to repay the GBP2 million loan the company has in place with HSBC.
"We are very pleased to continue to build our long term relationship with HSBC and to have completed the refinancing of our loan facility, as it will give us future working capital capacity to manage the business whilst we continue to deliver our strategic objectives," said Ubisense Chief Financial Officer Robert Parker.
By Sam Unsted; [email protected]; @SamUAtAlliance
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