27th Jul 2005 12:15
McKay Securities PLC27 July 2005 PRESS RELEASE MCKAY SECURITIES PLC £30 Million Loan Agreement with Bradford & Bingley Plc McKay Securities PLC is pleased to announce that it has entered into a new 10year, £30 million revolving loan facility with Bradford and Bingley plc, on aninterest only basis. This replaces a £9m facility with the bank that was due toexpire at the end of 2008. Part of the new facility has been used to fund McKay's acquisition of LotusPark, Staines. It increases the total bank facilities available to McKay to£129m, which after existing commitments, leaves funds available in the region of£12m. Fully utilised this would raise balance sheet gearing to approximately 90%of shareholders funds as at 31st March 2005. Contacts Simon Perkins - Managing DirectorAlan Childs - Finance Director McKay Securities PLC0118 9502333 27th July 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MCKS.L