SEPURA NEGOTIATES £18M FACILITY WITH BARCLAYS
The new facility will replace the company's existing £15m working capital facility.
Sepura plc, the TETRA digital mobile radios specialist, has entered into a new five year revolving credit facility of up to £18m with Barclays Corporate.
The new facility will replace the company's existing £15m working capital facility - scheduled to expire in October 2012 - and a residual £3m term loan, which was due for repayment by September 30, 2012.
The Cambridge UK company’s CEO, Gordon Watling, said: “We have acted early to ensure that we retain a flexible line of credit that will support the growth of the business as and when we need access to short-term funding.
“The fact that we have secured such a competitive package in the current market is a strong testament to our continuing progress and prospects for the future.”
Sepura is a global leader in the design, manufacture and supply of TETRA (TErrestrial Trunked RAdio) digital radios used predominantly by emergency services around the world and in the transport, utilities and commercial sectors.
Founded in the UK in 2002, Sepura has expanded rapidly across the world with a network of regional partners that sell and provide local support for its products. Sepura is now market leader in more than 30 countries.
The company, which joined the official list of London Stock Exchange in August 2007, employes around 300 people.
Source: www.businessweekly.co.uk
