Sugar and ingredients firm Real Good Food Company confirmed that it has completed a new five year 50m pound bank facility with its current financiers PNC Financial Services UK ahead of the maturity of its existing facilities in July 2013.
The new facility which, represents a £10m increase on the existing facility, will run until December 2017, the group explained.
It is comprised of a mixture of revolving credit facilities secured on trade debtors and inventory and term loans secured on the fixed assets of the business.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chairman Pieter Tott said the loan agreement will provide the facilities it needs to deliver the company's ambitions.
In its last trading update in September, Real Good Food said the current year has started well, with a strong first quarter, a flatter second quarter, and early indications pointing to a seasonally-strong third quarter.
CJ
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
