Phoenix refi agreed with syndicate of four
UK-based Phoenix IT Group has signed a £90m four year revolving credit 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 groups existing £86m line, comprising an amortising £56m term loan and a revolving credit of £30m. These were signed in 2007 and mature in May 2012.
Phoenix, an IT service provider based in Northampton, has also renewed its £10m overdraft facility for a further
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