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MBS PLC SECURES UKP16m LOAN FROM FOUR BANKS, PLUS UKP10m OVERDRAFT

Winning an emphatic vote of confidence for its new management team and its new directions for the big microcompeter products distributor and computer services company, MBS Plc has secured a UKP26m integrated facility consisting of a UKP16m syndicated loan from four European banks, and a UKP10m overdraft, the package being arranged by London merchant bank Samuel Montagu & Co. Montagu is contributing to the UKP16m loan; Banque Belge, Copenhagen Handelsbank and Dresdner Bank are the other three in the syndicate. The UKP10m overdraft is with Lloyds Bank and Midland Bank. Chairman Owen Williams says the cash will provide a sound base for us to pursue our plans for continued profitability through organic growth and through acquisition.

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CBR Staff Writer

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