Hayward Tyler completes latest loan note issue

13th Feb 2017 14:21

(ShareCast News) - Specialist engineering company Hayward Tyler Group announced the successful completion of its latest loan note issue at £0.6m on Monday.The AIM-traded firm said the loan notes carry a one-year term and pay interest at 6.75%.Proceeds of the issue were to be used to reduce the company's revolving credit facility with Royal Bank of Scotland by £0.6m."The group continues to have a supportive relationship with RBS, which has now agreed to extend the repayment date of the remaining balance of the £2.4m short term borrowings under the RCF to 28 February 2017," Hayward's board said in a statement."Further updates regarding the repayment of the £2.4m short term borrowings will be made in due course."