4th Jul 2008 18:28
Tanfield Group plc (the "Company")
New Bank Facility
The Company announces that its wholly owned subsidiary, Snorkel International Inc., has agreed a five year revolving credit facility of up to $35 million with JP Morgan Chase Bank NA ("Chase") secured over Snorkel's assets. The facility will bear an interest rate of the greater of prime rate of interest announced by Chase and the Federal Fund's effective rate plus 0.5 per cent., subject to a cap of 5.25 per cent and a floor of 3.67 per cent..
For further information:
The Tanfield Group Plc Tel: +44(0)845 1557 755
Darren Kell, Chief Executive
Fishburn Hedges Tel: +44(0)20 7839 4321
Morgan Bone
Cenkos Securities plc Tel: +44(0)20 7397 8900
Stephen Keys
St. Helen's Capital plc Tel: +44(0)20 7628 5582
Ruari McGirr
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Tanfield