StockMarketWire.com - Cable assembly solutions supplier Volex said it had refinanced its $30m revolving credit facility, which was was due to expire this month.

The facility, provided by Lloyds and HSBC, had been extended on improved terms for a three-year period, with a maturity date of July 2022.

Changes included a 40 basis point reduction in the non-utilisation fee and a 70 basis point reduction in interest-rate margin.

There were also fewer restrictions in key operational covenants.

A $10m uncommitted accordion feature had been added to provide further capacity, up to a total limit of $40m, for potential future acquisitions.

The company's current net cash balance stood at $16.4m.


At 8:16am: [LON:VLX] Volex Group PLC share price was +0.5p at 88.4p



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