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Finsbury Food secures new revolving credit facility
AIM-listed speciality cake and bread manufacturer Finsbury Food said on Friday that it has refinanced its current debt facilities.
It has agreed a new £45m revolving credit facility with HSBC, Rabo Bank and RBS. The five-year facility is on improved terms and includes scope for an increase of up to £45m,
Finsbury said it provides increased capacity for the group to explore future growth opportunities and support its long-term investment strategy.
Finance director Steve Boyd said: "We are delighted with this successful outcome and this revised facility, with significant headroom, gives us greater flexibility and means we are better equipped to deliver growth and shareholder value going forward."
At 0925 GMT, the shares were up 0.1% to 116.62p.