Information  X 
Enter a valid email address

Science Group PLC (SAG)

  Print      Mail a friend

Friday 29 May, 2020

Science Group PLC

Top Up of Bank Loan

RNS Number : 2702O
Science Group PLC
29 May 2020
 

  29 May 2020

 

 

Science Group plc

 ("Group")

 

 

Top Up of Bank Loan

Further to the announcement on 4 May 2020, the Group has now finalised the top up of the bank loan, increasing the debt from £16.0 million at 28 May 2020 to the maximum level of £17.5 million.

The repayment date of the additional £1.5 million is the same as the current loan, September 2026. An additional interest rate swap has been taken to fix the interest rate of the incremental debt at an effective rate of 3.0%.  The rates fixed via similar swap instruments of 3.5% for the original loan in 2016, and 4.0% for the first extension of the loan in 2019, remain in place.  Consequently, the resulting effective interest rate for the term loan is 3.5%.

The other terms and conditions of the incremental loan are the same as the original facility as set out in the announcement on 16 September 2016.

 

 

 

Science Group plc


Martyn Ratcliffe, Chairman

Tel: +44 (0) 1223 875 200

Rebecca Archer, Finance Director

www.sciencegroup.com



Panmure Gordon


Nominated Adviser: Dominic Morley, Alina Vaskina

Tel: +44 (0) 20 7886 2500

Corporate Broking: Erik Anderson




Liberum Capital Limited


Neil Patel / Cameron Duncan / Robert Morton / Ed Phillips

Tel: +44 (0) 20 3100 2000

 

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (No 596/2014).

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
FURMZGZKKRNGGZM

a d v e r t i s e m e n t