New banking arrangements

RNS Number : 7846I

Fulham Shore PLC (The)

30 March 2015

 



The Fulham Shore plc

("The Fulham Shore" or the "Company")

New Banking Arrangements

The Fulham Shore announces that it has agreed new credit facilities with its bank, HSBC. 

The new credit facilities, for which covenants have been agreed, provide a revolving credit facility of £6.0 million and an overdraft facility of £0.5 million to the Company for various purposes including:

-      refinancing the outstanding loan facility acquired with Kefi Limited of £860,000;

-      investment in the Company's existing  restaurants;

-      funding the expansion of The Real Greek restaurants; and

-      funding future acquisitions and expansion of any acquired brands.

The revolving credit facility is for a fixed term of 4 years and attracts an interest rate margin of between 1.5 per cent. and 2.5 per cent. over LIBOR on amounts drawn down.

Contacts:

The Fulham Shore plc	www.fulhamshore.com
David Page	07836 346 934
Allenby Capital Limited
Nick Naylor / Jeremy Porter / James Reeve	020 3328 5656

 

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