Travel Firm Thomas Cook Reach Banking Agreement

Stu · 26 Nov 11, 10:19 PM

Thomas Cook, the travel firm, have reached an agreement with their bankers for a new Ł200m credit facility until the end of April 2013.

The new deal replaces the Ł100m short term credit agreement that the company announced in October 2011.

At the end of September the firm's net debt was just under Ł900m. The new loan will take the figure to over Ł1bn.

The company has stressed that it is not currently in breach of the terms of any of its loans, and said it wanted the new loans to "improve its resilience if trading conditions remain difficult".

Read full story HERE

DIBBadmin · 26 Nov 11, 10:19 PM

This thread has been automatically closed as it has not been posted on in 365 days.

26 Nov 11, 10:19 PM	#1
	26 Nov 11, 10:19 PM Stu Imagineer
Stu Imagineer Join Date: Mar 02 Stu's Reviews Hotel Reviews: 3 Restaurant Reviews: 4 theDIBB Guidebook Pages Created: 324 Guidebook Photos: 485 Guidebook Reviews: 1	Travel Firm Thomas Cook Reach Banking Agreement Thomas Cook, the travel firm, have reached an agreement with their bankers for a new Ł200m credit facility until the end of April 2013. The new deal replaces the Ł100m short term credit agreement that the company announced in October 2011. At the end of September the firm's net debt was just under Ł900m. The new loan will take the figure to over Ł1bn. The company has stressed that it is not currently in breach of the terms of any of its loans, and said it wanted the new loans to "improve its resilience if trading conditions remain difficult". Read full story HERE Attached Thumbnails __________________ ”Change the way you look at things & the things you look at change”

26 Nov 11, 10:19 PM	#2
	26 Nov 11, 10:19 PM DIBBadmin Imagineer
DIBBadmin Imagineer Join Date: Mar 02	This thread has been automatically closed as it has not been posted on in 365 days.

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