StockMarketWire.com - Sagentia has successfully negotiated a new £10 million term-loan facility. The loan, agreed with Lloyds TSB Bank is for a term of five years, with £5.0 million amortising and the remaining £5.0 million repayable at term.

It is secured solely on the freehold property at Harston and subject to maintaining cash balances in excess of £2.0 million, the loan is not subject to operating covenants on the consultancy business.

This loan replaces the previous facility which was due to expire in October 2015 and on which there was an outstanding balance of £5.8 million. The new loan will be used to pay down the outstanding balance on the previous loan.




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