23rd May 2011 07:00
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
Carl Fry
+44 (0)20 8606 2000
Peel Hunt LLP (Nominated Adviser & Broker)
+44 (0)20 7418 8900
Daniel Harris
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