STV GROUP PLC — Capital/Financing Update 2017

Sep 15, 2017

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RNS Number : 8198Q

STV Group PLC

15 September 2017

Press Release                    

15 September 2017

STV Group announces extension of bank facility 

STV Group plc today announces that it has secured an extension of its £60million revolving credit and overdraft facility.

The bank facility extension, which has a maturity date of June 2022, extends the previous facility agreement which was due to end in June 2019.     

Santander UK plc has increased its commitment to provide £40million, with Barclays Bank plc providing the remaining £20million.  The extended facility, which carries standard covenant arrangements, includes interest cover and net debt: EBITDA ratio tests. 

The facility will provide headroom for the Group's ongoing requirements as well as the flexibility to capitalise on future development opportunities.

George Watt, Chief Financial Officer of STV Group plc, said: "We are pleased to have agreed this bank facility extension which has been reached through our ongoing close relationships with both Santander, which has become the Group's largest lender as well as providing retail banking services, and Barclays."

Ends.

Enquiries:

STV Group plc

Ellen Drummond, PR & Communications Manager

Tel: 07803 970143 / 0141 300 3341  Email : ellen.drummond@stv.tv

Charlotte Street Partners

Harriet Moll, Partner

Tel: 07717 501626 / 0131 516 5310  Email: harriet.moll@charlottestpartners.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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