New ?40m banking facility

RNS Number : 8581B

NCC Group PLC

09 April 2013

 



9 April 2013

NCC Group plc

New £40m banking facility

NCC Group plc (LSE: NCC), the international, independent provider of Escrow and Assurance, has agreed a new £40m banking facility for a period of just over three years, maturing in July 2016. 

The facility comprises a £40m multi-currency Revolving Credit Facility (RCF) with a £5m overdraft and has been provided by the Group's existing bankers, The Royal Bank of Scotland PLC, following a competitive tender process.

Interest on the drawn down element of the RCF will range from 1.5% to 2.25% above LIBOR based on the Net Debt/EBITDA ratio. 

Atul Patel, NCC Group Finance Director, commented:

"Being able to secure such improved terms is a strong endorsement of our strategy and the momentum within the business.

"This increased facility gives us the flexibility to continue to develop through acquiring earnings enhancing, high quality businesses as well as strong organic growth, away from areas of discretionary expenditure." 

Enquiries:

NCC Group  (www.nccgroup.com)	[phone]
Rob Cotton, Chief Executive
Atul Patel, Group Finance Director
College Hill
Adrian Duffield/Rozi Morris	[phone]

 

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