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New Bank Facilities

23rd May 2011 07:00

RNS Number : 0454H
Journey Group PLC
23 May 2011
 

Journey Group plc

(the "Company" and together with its subsidiaries the "Group")

New Bank Facilities

 

Journey Group Plc, a leading provider of in-flight products, catering and media services to the international airline and travel industries today announces a refinancing of its remaining £1.5 million borrowing facility with Taurouge II SARL.

The new facility is with Royal Bank of Scotland plc and provides funding for a committed term of two years of up to a maximum of £1.96 million at a significantly reduced funding cost.

Stephen Yapp, Executive Chairman said, 'As well as providing an increased level of funding at a reduced cost, this new facility removes the restrictions on the Group raising debt in the USA, which facilitates the Group's strategy of growing its in-flight catering activities in the USA. It also marks the Group's return to normal banking relationships."

Journey Group plc contacts:

Stephen Yapp

+44 (0)20 8606 2000

[email protected]

 

Carl Fry

+44 (0)20 8606 2000

[email protected]

 

 

Peel Hunt LLP (Nominated Adviser & Broker)

+44 (0)20 7418 8900

Daniel Harris

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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