logo-loader
viewTissue Regenix Group PLC

Tissue Regenix rejigs loan agreement

Chairman John Samuel: "I am very pleased that Midcap have shown their support for the company by entering this revised agreement"

calculator
Tissue Regenix will continue to have access to a revolving credit facility

Tissue Regenix Group and lender MidCap Financial Trust have agreed to rejig the terms of a loan deal.

The former will immediately repay US$$5.5mln of a term loan, while the latter is to defer certain fees due. The balance of the term loan - US$2mln, known as tranche-one - will remain in place.

The repaid US$5.5mln will be added to tranche-two, which now totals US$10.5mln.

Tranche-two and a U$2.5mln third tranche can be drawn down at MidCap’s discretion and “satisfactory recapitalisation of the company at that time”.  

Tissue Regenix will continue to have access to a revolving credit facility.

Chairman John Samuel said: "I am very pleased that Midcap have shown their support for the company by entering this revised agreement. There is still much to do to bring on stream new capacity but with strong demand for our products and the hard work and dedication of our employees we will continue to review our funding options." 

For full details click here.

Quick facts: Tissue Regenix Group PLC

Price: 0.321 GBX

AIM:TRX
Market: AIM
Market Cap: £22.58 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Tissue Regenix Group PLC named herein, including the promotion by the Company of Tissue Regenix Group PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: FTSE 100 heads higher as markets welcome easing of restrictions

Headlines from the Proactive UK newsroom. The FTSE 100 rose 21 points to 6,957 as markets welcomed more easing of coronavirus lockdown measures across Europe despite some confusion in the UK. UK prime minister Boris Johnson, though, is being pressed for more clarity on the relaxation of UK...

on 11/5/20

2 min read