James Fisher & Sons PLC (LSE:FSJ), the shipbroker, edged out of its recent doldrums as investors welcomed a new £210mln lending facility.
The new facility matures in 2025 and replaces an existing £247.5mln arrangement, of which some £47.5mln was due to mature in October.
A waiver on the existing facility has been extended while the new credit deal is signed off.
Fisher has been selling off parts of the business to get its debt down and said it will continue with disposals to deleverage further.
Shares rose 4.4% to 294p with investors reassured also by a trading update.
The first quarter of 2023 had gone well said Jean Vernet, chief executive, and was ahead of this time a year ago.
Full-year results are due on Friday and will be in line with previous guidance, the company added.