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Porta Communications agrees new revolving credit facility

The interest rate on the facility is 1.35 percentage points lower than the one it is replacing
Pound notes
The facility will result in an increase of the company's available credit facilities of up to £2.3m versus the existing confidential invoice discounting facility

Porta Communications PLC (LON:PTCM) has agreed terms for a new five year £3.3mln revolving credit facility.

The international communications and marketing group said the facility will replace the company’s existing £3mln confidential invoice discounting facility in the UK, and will provide working capital for the company.

The revolving credit facility includes a margin of 3.85% over LIBOR, representing a reduction of 1.35 percentage points over the confidential invoice discounting facility.

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