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New Banking Facilities

29th Apr 2013 07:00

RNS Number : 4036D
Good Energy Group PLC
29 April 2013
 



Good Energy Group PLC

29 April 2013

("Good Energy")

New Banking Facilities

The Board of Good Energy is pleased to announce that it has entered into a new Group Revolving Credit Facility of GBP 7.5 million (the "RCF") with its current bank, Lloyds TSB Bank plc (Lloyds Bank). The RCF, which has a three year term combined with the current overdraft facility gives the Group total facilities of £10.5m in place with Lloyds Bank.

Commenting, Garry Peagam, Group Finance Director said:

"I am very pleased that we have concluded discussions with Lloyds Bank regarding this new facility. Lloyds Bank has recognised that while Good Energy has matured as a profitable business, funding flexibility is required from time to time particularly in respect of some of the long lead items required for our portfolio of Wind and Solar development projects in the United Kingdom. We look forward to continuing to work with them."

For further information, please contact:

Good Energy Group plc

Juliet Davenport, Chief Executive 01249 766795

Garry Peagam, Group Finance Director

 

N+1 Singer (Nominated Adviser & Broker)

Andrew Craig, Ben Wright 020 7496 3000

 

Kreab Gavin Anderson (Financial PR)

Tom Poston, Anna Schoeffler 020 7074 1800

 

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