| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Mouchel Group plc > News item |
Mouchel Group completes £170 million credit facility due in 2014
By Sara Rosenberg
New York, Jan. 27 - Mouchel Group plc closed on a £170 million credit facility due March 31, 2014, according to a news release.
Barclays, Lloyds Banking Group and RBS are involved in the new deal.
The interest margin on the facility can range from 3.1% to 4% depending on ratios.
The facility requires two repayments each of £7.5 million on July 31, 2012 and July 31, 2013.
Also, if an additional voluntary repayment of £30 million is not made before May 31, 2012, the interest margin will increase by 2% and warrants will be issued.
Additionally, the agreement restricts dividend payments until the voluntary repayment of £30 million is completed.
Proceeds were used to refinance existing debt.
Mouchel is a London-based consulting and business services company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.