REG - Science Group PLC - Top Up of Bank Loan

ScienceAnnouncement

29/05/2020 07:01

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).
 


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