Business
Completion of refinancing
Completion of refinancing.
About this update from Morgan Advanced Materials Plc
[{"type":"text","content":"\n RNS Number : 5908R Morgan Crucible Co PLC 01 May 2009 \n \n \nCompletion of refinancing\n\nThe Morgan Crucible Company plc today announces the signing of a new 3 year multi-currency facility for £280m from a syndicate of eight banks. This will replace the existing $420m facility which was due to mature in March 2010 with a new loan of comparable size and with the same financial covenants.\n\nKevin Dangerfield, Group CFO said:\n\n'I am delighted to announce the renewal of our banking facilities well ahead of the maturity of the existing bank lending arrangements. In addition to the continuing support of our main existing banks we are particularly pleased that three new relationship banks have joined the syndicate which we believe represents a strong endorsement in the current economic climate of Morgan Crucible's financial position and prospects.'\n\nThe Morgan Crucible Company plc will issue its Interim Management Statement for the first quarter on Friday May 15th 2009.\n\n\nFor further enquiries:\n\nThe Morgan Crucible Company plc\nMark Robertshaw / Kevin Dangerfield 01753 837000\n\nFinsbury\nMike Smith / Clare Strange 020 7251 3801\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCSSEFSFSUSEII \n ","length":2586,"tagName":"div"}]