30 May 2018

SRT Marine Systems plc

 

SRT (AIM: SRT), the global provider of maritime surveillance and vessel tracking systems, has raised £3 million through an institutional placing of shares and has refinanced £1.15 million of maturing loan notes.

The maturing loan notes were refinanced by the issuance by new 8.00% three year notes under the terms of the company's loan note programme. LGB Corporate Finance arranged the loan note refinancing and also introduced investors to the equity placing.

The proceeds of the transactions will provide growth and working capital to fund new and ongoing systems projects as well as to accelerate product development. The company has announced £30.5 million of ongoing projects and a validated pipeline with a potential value of £419 million, of which £119 million is classified as being in the final procurement phase. The company intends to use the equity and loan note funding in conjunction with UKTI export financing to cover the capital requirements of the early stages of projects.

Recent Articles

2 October 2018

Global Debt Hits All-Time High: To Panic Or Not To Panic?

Andrew Boyle, CEO of LGB & Co., contributed an article on the increase in global debt.

 

Read more

News & Insights

28 September 2018

Rivers Leasing plc

LGB Corporate Finance arranges £25 million medium term note (MTN) programme for Rivers Leasing plc

Read more

Deals

17 September 2018

LGB Corporate Finance appoints Andrew Hay as Chairman

LGB Corporate Finance is delighted to announce the appointment of Andrew Hay as Chairman. Read more

News & Insights