Sportech agrees revised £91m banking facility

4th Jan 2010 08:04

Football pools firm Sportech said it has agreed a revised £91m banking facility with its lender Lloyds Banking Group to fund growth plans."The revised facilities give the group the flexibility it requires to develop organically as well as providing it with the ability to take advantage of other available business development opportunities," said Sportech in a company statement.The revised banking facilities of £90.75m, comprise of £87.75m of senior facility term loans and a £3m working capital facility.Commenting on the amended agreement chief executive, Ian Penrose said, "We are pleased to have agreed this position with the Lloyds Banking Group. We now have in place robust facilities, which allow the group to pursue both organic and development opportunities."