Business
Bank facility
Bank facility.
About this update from Panther Securities Plc
[{"type":"text","content":"\n \nRNS Number : 4341L Panther Securities PLC 01 August 2011 \n\n1 August 2011\n \n \nPanther Securities PLC \n(\"Panther\" or the \"Company\")\n \nBank facility completed and further re. acquisitions\n \nThe Panther Board is pleased to announce that on 29 July 2011 the Company completed its refinancing arrangements, being a facility totalling £75,000,000 provided by HSBC and Santander. \n \nThe initial draw-down is £60,000,000, by way of a 5 year term loan. This provides the Company with approximately £10,000,000 for immediate investment, following the repayment of the existing long-term finance and recent short-term draw-downs and payment of associated bank and legal fees. In due course, once further security has been provided, the Company will also have access to the remaining £15,000,000 of revolving facility, which will also be on a 5 year term. \n \nFurther to the announcement on 14 July 2011, all the property purchases, which amounted to an aggregate consideration of approximately £10.1 million, have been completed. In due course the Directors expect that these properties will increase Panther's rental income by over £1.1 million per annum.\n \n \nFor further information contact:\n \n\n\n\n\nPanther Securities PLC\nAndrew Perloff - Chairman\nSimon Peters - Finance Director\n\n\n01707 667 300\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUKONRAAABUAR \n ","length":3385,"tagName":"div"}]