Business
Extension of bank facility
Extension of bank facility.
About this update from Stv Group Plc
[{"type":"text","content":"\n \nRNS Number : 8198Q STV Group PLC 15 September 2017 \n\n \nPress Release \n15 September 2017\n \nSTV Group announces extension of bank facility \n \nSTV Group plc today announces that it has secured an extension of its £60million revolving credit and overdraft facility.\n \nThe bank facility extension, which has a maturity date of June 2022, extends the previous facility agreement which was due to end in June 2019. \n \nSantander UK plc has increased its commitment to provide £40million, with Barclays Bank plc providing the remaining £20million. The extended facility, which carries standard covenant arrangements, includes interest cover and net debt: EBITDA ratio tests. \n \nThe facility will provide headroom for the Group's ongoing requirements as well as the flexibility to capitalise on future development opportunities.\n\nGeorge Watt, Chief Financial Officer of STV Group plc, said: \"We are pleased to have agreed this bank facility extension which has been reached through our ongoing close relationships with both Santander, which has become the Group's largest lender as well as providing retail banking services, and Barclays.\"\n \nEnds.\n \n \nEnquiries:\n \nSTV Group plc\n \nEllen Drummond, PR & Communications Manager\nTel: 07803 970143 / 0141 300 3341 Email : [email protected]\n \nCharlotte Street Partners\n \nHarriet Moll, Partner\nTel: 07717 501626 / 0131 516 5310 Email: [email protected]\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCEAKNLFASXEFF\n ","length":3508,"tagName":"div"}]