UK Credit Facilities Complete

RNS Number : 6659O

McInerney Holdings PLC

11 March 2009

 



Wednesday, 11 March 2009 MCINERNEY HOLDINGS PLC ('McInerney' or the 'Group') UK CREDIT FACILITIES COMPLETED In its Trading Statement on 23 January 2009, the Group indicated that agreement in principle had been reached with its existing relationship banks in the UK and that the Group remained on target to sign a revised loan facility agreement prior to the Preliminary Results Announcement on 23rd March. The Group now confirms that a revised UK loan facility agreement was signed by all parties on 10th March 2009.  The new facility contains a revised covenant structure which is based on cash collection rather than earnings. The maturity date is extended to 31 March 2010. The covenant structure is appropriate for current market conditions.  ENDS FOR INFORMATION: Siobhan Molloy                                    Tel: [phone] Weber Shandwick                               or [phone] This announcement has been issued through the Companies Announcement Service of The Irish Stock Exchange

 

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