Tuesday, September 15, 2009

Shepherd Group announces £90m refinancing

Shepherd Group has signed a ВЈ90m refinancing deal with HSBC, as part of a bid to continue its plans for growth.

Terry Smith, group finance director at 119-year-old firm, said: “This extensive facility provides us with the flexibility to invest in our business over the coming years. Despite challenging market conditions, we remain well capitalised, and as such we are delighted to be in a position to pursue growth plans.

"As a result of our 40-plus year relationship, HSBC understands our business and our ambitions, and has the unrivalled credentials to support our aspirations. We appreciate their ongoing support.”

David Gregson, HSBC senior corporate banking manager for Yorkshire & North East, said: “HSBC is delighted to be able to provide further support to our long standing customer.

"The facilities – which recognise the group’s financial strength and standing - will allow the management team to pursue their business plans from a sound base and enable them to capitalise on opportunities across their diverse operations.”

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