LONDON (Alliance News) - Scapa Group PLC said Wednesday that it had secured a GBP40 million debt finance facility with a three-bank club consisting of Lloyds Banking Group PLC, HSBC Holdings PLC and Barclays PLC.
The four-and-a-half-year revolving credit facility also provides access to an additional uncommitted GBP20 million 'accordion' facility.
"This finance facility provides us with further capacity to support the growth of the business, both organically and through acquisition," said Chief Executive Heejae Chae in a statement.
Shares in the bonding materials and solutions company were trading down 0.2% at 117.75 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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