Phoenix refi agreed with syndicate of four
UK-based Phoenix IT Group has signed a £90m four year revolving credit facility with a group of four banks. The loan, signed on August 20, was agreed with Barclays Capital, HSBC, Royal Bank of Scotland and Yorkshire Bank.
The revolver will replace the group’s existing £86m line, comprising an amortising £56m term loan and a revolving credit facility of £30m. Both of these were set to mature in May 2012.
Phoenix, an IT service provider based in Northampton, has also renewed its £10m overdraft facility for a
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