Quarto Group Inc
13 June 2007
Wednesday 13 June 2007
THE QUARTO GROUP, INC.
US$115 million Syndicated Facility
Quarto, the London-based and listed international book publisher, has signed a
five year, US$115,000,000 multi currency revolving credit agreement with a
syndicate of banks on both sides of the Atlantic.
'This funding agreement increases our borrowing capacity to US$180 million,'
noted Michael J Mousley, Quarto's Chief Financial Officer. 'I am pleased to
report that Fifth Third Bank, headquartered in Cincinnati, Ohio, has joined the
syndicate. This means that our banking group is now a better strategic fit to
our existing business and our plans for growth. It is also pleasing to note that
our existing bankers continue to support these plans and continue to recognise
the ongoing strength of our business.'
Notes for Editors:
Quarto is an international book producer and publisher with two principal
strands of activity: it publishes, under imprints owned by the Group, books and
art prints in the US, the UK, and Australia; and it creates books that are
licensed to other publishers for publication under their own imprints in many
languages around the world.
In 2006, Quarto increased adjusted pre-tax profit by 9% to £7.3 million and
adjusted diluted earnings per share by 6% to 22.5p, proposing total dividends
per share up 4% at 6.75p.
Enquiries:
The Quarto Group, Inc.
Laurence Orbach (Chairman & CEO) 020-7700 9003
Mick Mousley (Finance Director) 020-7700 9004
Bankside Consultants Limited
Charles Ponsonby 020-7367 8851
This information is provided by RNS
The company news service from the London Stock Exchange
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