Business
New Bank Facility
New Bank Facility.
About this update from Tanfield Group Plc
[{"type":"text","content":"\n RNS Number : 4179Y Tanfield Group PLC 04 July 2008 \n \nTanfield Group plc (the 'Company')\n\nNew Bank Facility\n\nThe Company announces that its wholly owned subsidiary, Snorkel International Inc., has agreed a five year revolving credit facility of up to $35 million with JP Morgan Chase Bank NA ('Chase') secured over Snorkel's assets. The facility will bear an interest rate of the greater of prime rate of interest announced by Chase and the Federal Fund's effective rate plus 0.5 per cent., subject to a cap of 5.25 per cent and a floor of 3.67 per cent..\n \n \nFor further information: \n \nThe Tanfield Group Plc Tel: +44(0)845 1557 755 \nDarren Kell, Chief Executive \n\nFishburn Hedges Tel: +44(0)20 7839 4321 \nMorgan Bone \n \nCenkos Securities plc Tel: +44(0)20 7397 8900 \nStephen Keys \n \nSt. Helen's Capital plc Tel: +44(0)20 7628 5582 \nRuari McGirr \n\n \nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCDZLFBVDBLBBQ \n ","length":2437,"tagName":"div"}]