New Bank Facility

RNS Number : 4179Y

Tanfield Group PLC

04 July 2008

 



Tanfield Group plc (the 'Company')

New Bank Facility

The 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..

For further information: 

The Tanfield Group Plc  Tel: [phone] 

Darren Kell, Chief Executive 

Fishburn Hedges Tel: [phone] 

Morgan Bone 

Cenkos Securities plc  Tel: [phone] 

Stephen Keys 

St. Helen's Capital plc Tel: [phone] 

Ruari McGirr 

 

END

 

 

MSCDZLFBVDBLBBQ