Business
Debt Refinancing
Debt Refinancing.
About this update from Restore Plc
[{"type":"text","content":"\n \nRNS Number : 3120J Restore PLC 29 June 2011 \n \n\n Restore plc \n (\"Restore\" or \"The Company\")\n Refinancing Agreement\nRestore plc, the AIM listed UK Services Group, today announces that it has signed a new finance facility with Barclays Bank plc. The main details of the new facility are:\n· A 5 year Term Loan for £11 million at 2.85% over 3 month LIBOR. The repayment period is 10 years with quarterly payments commencing June 2012\n· A 3 year Revolving Credit Facility for £3 million at 3.5% over 3 month LIBOR\n· An overdraft, on demand, facility of £2 million at 3% over 3 month LIBOR\nCommenting on the agreement Harvey Samson, Finance Director of Restore plc said: \"Restore is a profitable business with excellent growth prospects and good quality of earnings. We are delighted to have put in place these new financing arrangements which enable us to continue our strategy of growth both organically and by acquisition.\"\n \nFor further information, please contact:\n \n\n\n\n\nRestore plc\n\n\n\n\n\n\n\nCharles Skinner, Chief Executive\nHarvey Samson, Finance Director\n\n\nTel: 07966 234 075\nTel. 07836 658448\n\n\n\n\n \nCenkos Securities\n\n\n\n\n\n\n\nNicholas Wells / Elizabeth Bowman\n\n\nTel: 020 7397 8900\n\n\n\n\n \nThreadneedle Communications\n\n\n\n\n\n\n\nJohn Coles\n\n\nTel: 020 7653 9848\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGRGMGZVNRMGMZM \n ","length":4468,"tagName":"div"}]