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Westminster repays convertible loan notes, mezzanine loan facility
StockMarketWire.com
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Managed services supplier group Westminster said it had repaid about £2.6 million of debt from its bonds and mezzanine loan facility.
The company redeemed all remaining convertible secured loan notes, the convertible unsecured loan stock, and had fully repaid the mezzanine loan facility from RiverFort and YA II.
The repayment of debt 'not only strengthens the Company's balance sheet but will result in an annual saving of approximately £0.3 million in interest and fees and was a major objective of the recent £5 million placing that completed on 22 December 2020,' the company said.
At 9:30am: (LON:WSG) Westminster Group PLC share price was 0p at 6.25p
Story provided by StockMarketWire.com
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