Renewal of Banking Facilities
NAHL renewed banking facilities with Clydesdale Bank/Virgin Money, extending RCF maturity to December 2025 and reducing limit to £15m.
- RCF limit £15m
- RCF maturity extended to 31 December 2025
- Net debt £9.7m (prior £13.3m)
- Interest rate 2.25% above SONIA
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NAHL (AIM: NAH), a leading marketing and services business focused on the UK consumer legal market is pleased to confirm that it has renewed its banking facilities with Clydesdale Bank/Virgin Money.
The term of the Revolving Credit Facility (RCF), which was set to expire on 31 December 2024, has been successfully extended to 31 December 2025 and the limit on the facility has been reduced by £5m to £15m, in line with the Group's medium-term plans and the 27% reduction in net debt to £9.7m at 31 December 2023 (31 December 2022: £13.3m). The interest rate on the facility remains at 2.25% above SONIA.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.