News Archive
Merlin Completes Re-financing deal
11/03/2010
Merlin is pleased to confirm that the new financing arrangements have been signed with its existing investors and financial stakeholders.
The restructured balance sheet with a reduced debt structure will offer lower gearing and lower interest costs, whilst new investment will allow for Merlin’s continuing development and gives a strong platform for future growth.
Commenting on the refinancing, Merlin’s CEO Richard Webster said, "The completion of the refinancing now allows us to develop further our service to customers, and to pursue some of the new opportunities that are presenting themselves in the market. I would also like to thank our existing customers, suppliers and staff who have been very supportive during the process despite some unfounded market rumours.
Richard Webster added; "The approval by our lenders and shareholders of our restructuring endorses their confidence in the business and the strategy we are pursuing. Merlin now has a future that is secure with a financing structure that is sustainable and responsive to the impact of the volatility of insurance claims on Merlin’s finances.’
For further information please contact:
Hayley Tea
Peak Marketing & Communication Services Ltd
020 8661 2444
hayley.tea@peak-marketing.co.uk
