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Sutton Harbour Holdings PLC   -  SUH   

RENEWED AND EXTENDED BANK FACILITIES

Released 07:00 04-Mar-2016

RNS Number : 0131R
Sutton Harbour Holdings PLC
04 March 2016
 

4 March 2016

SUTTON HARBOUR HOLDINGS PLC

("Sutton Harbour Holdings" or "the Company")

RENEWED AND EXTENDED BANK FACILITIES

The Company is pleased to report that it has renewed and extended bank facilities with Royal Bank of Scotland on improved terms for a three year period commencing March 2016. The confirmed committed £25m facility (previously £22.5m which was due to expire in October 2016) comprises term loan and revolving credit facility debt layers. Overall, financing costs are not expected to reduce materially. In addition, the Company maintains its access to an additional rolling £550,000 asset lease financing facility, through the same banking group.

The renewed bank and lease finance facilities provide the Company with additional headroom to permit progress with its strategies to realise value from development inventory, undertake infrastructure works to improve performance of business operations and manage seasonal variations in the annual cash cycle.

 Ends

 

Sutton Harbour Holdings plc

Jason Schofield - Chief Executive

Natasha Gadsdon - Finance Director

01752 204186



Arden Partners

James Felix / Benjamin Cryer

0207 614 5917



Yellow Jersey

Philip Ranger / Aidan Stanley

07768 534641



 

 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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RENEWED AND EXTENDED BANK FACILITIES - RNS