Archant refinances £50m debt after 'most challenging year'
Posted: Thursday, 10 December 2009 - 12:17pm
The deal with a range of borrowers, jointly led by the Royal Bank of Scotland and Bank of Ireland, has secured Archant’s operating cash flow needs and leaves funds for strategic investments, the privately-owned company said today.
Terms of the deal brokered by KPMG mean all of Archant's day-to-day banking transfers to Royal Bank of Scotland. No further details, including those about repayment, were announced.
Archant publishes four daily regional newspapers, including the Eastern Daily Press and the East Anglian Daily Times, along with 60 weekly newspapers, 80 monthly magazines and over 180 websites.
Brian McCarthy, Archant finance director, said: "2009 has been the most challenging year for raising new debt for many years.
The deal with a range of borrowers, jointly led by the Royal Bank of Scotland and Bank of Ireland, has secured Archant’s operating cash flow needs and leaves funds for strategic investments, the privately-owned company said today.
Terms of the deal brokered by KPMG mean all of Archant's day-to-day banking transfers to Royal Bank of Scotland. No further details, including those about repayment, were announced.
Archant publishes four daily regional newspapers, including the Eastern Daily Press and the East Anglian Daily Times, along with 60 weekly newspapers, 80 monthly magazines and over 180 websites.
Brian McCarthy, Archant finance director, said: "2009 has been the most challenging year for raising new debt for many years.
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