AIM-listed property investor Panther Securities has obtained approval for a three-month extension on a £75m bank loan that it is working to refinance.
Last month, the company told shareholders it was waiting on one of its joint lenders to confirm terms of a refinancing ahead of a looming loan expiry, adding that discussions over facilities set to expire in April had “taken longer to conclude that anticipated” during the Covid crisis.
The company said today that it had agreed a three-month extension, to July, during which time a refinancing is set to receive credit approval.
According to the company’s most recent set of results, the £75m loan was signed with HSBC and Santander. Panther has not specified which lender it was waiting on for news of the extension and refinancing.
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