StockMarketWire.com - Publisher and food court group Time Out said it had extended an existing £20m loan from Oakley Capital Investments, to provide liquidity during the Covid-19 crisis.

Time Out had previously announced the closure of all six of its food courts and weaker advertising revenues.

It had extended the loan, plus £4.2m of accrued interest as at 1 May, by drawing down £2.5m of an available £18m extension.

The loan extension had now been executed and was provided on identical terms to an existing loan.

Funds drawn would be repayable in May 2021 along with accrued interest charged at 12%.



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