Paul Teasdale, CEO of Castleford-based Premier Technical Services Group PLC.

Caslteford’s PTSG agrees news £7m banking facility with HSBC

Premier Technical Services Group PLC (PTSG), based in Castleford, has now entered into new banking facilities with HSBC.

The specialist services provider announced that the new Revolving Credit Facility (RCF) is a committed £7m five year facility, which expires in September 2020 and replaces PTSG’s existing term loan which was due to expire in September 2018.

Both new facilities are provided at a lower interest rate than the facilities being refinanced and covenant testing has been improved. Drawn amounts under RCF attract a variable margin over LIBOR, based on PTSG’s Net Debt/EBITDA ratio. Undrawn amounts attract a commitment fee.

Paul Teasdale, CEO of PTSG, said: “The new banking facilities strengthen our financial position, extend the Group’s debt maturities and refinance our existing Term Loan of £3m.

“The RCF will help underpin our strategy to generate significant shareholder value through organic growth and complementary acquisitions, whilst the increased overdraft facility from £1.25m to £2.5m gives PTSG greater working capital flexibility, as the business grows.

“We are delighted to continue working with HSBC and the terms of the new facilities reflect the bank’s ongoing confidence in the Group’s strategic prospects and credit quality.”

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      • 20. /app/Views/Analytics/PublishedItem.php:36
      • 21. /app/Http/Controllers/ArticleController.php:82
      • 24. /vendor/laravel/framework/src/Illuminate/Routing/ControllerDispatcher.php:45
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      • 19. /app/Http/Controllers/ArticleController.php:107
      • 22. /vendor/laravel/framework/src/Illuminate/Routing/ControllerDispatcher.php:45
      • 23. /vendor/laravel/framework/src/Illuminate/Routing/Route.php:219
      • 24. /vendor/laravel/framework/src/Illuminate/Routing/Route.php:176
      • 25. /vendor/laravel/framework/src/Illuminate/Routing/Router.php:680
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      • 19. view::frontend._artivent:58
      • 21. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
      • 22. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 23. /vendor/laravel/framework/src/Illuminate/View/View.php:125
      • 24. /vendor/laravel/framework/src/Illuminate/View/View.php:90
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      Backtrace
      • 20. /app/Domain/Profiles/Profile.php:116
      • 21. view::frontend._artivent:61
      • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
      • 24. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:125
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      Backtrace
      • 16. /vendor/laravel/framework/src/Illuminate/Support/Traits/ForwardsCalls.php:23
      • 19. /app/Domain/Profiles/Profile.php:127
      • 20. view::frontend._artivent:62
      • 22. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
      • 23. /vendor/laravel/framework/src/Illuminate/View/View.php:142
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      Metadata
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      Backtrace
      • 16. /vendor/laravel/framework/src/Illuminate/Support/Traits/ForwardsCalls.php:23
      • 19. /app/Domain/Profiles/Profile.php:127
      • 20. /app/Domain/Profiles/Profile.php:150
      • 21. view::frontend._artivent:63
      • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
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      Metadata
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      Backtrace
      • 16. /vendor/laravel/framework/src/Illuminate/Support/Traits/ForwardsCalls.php:23
      • 19. /app/Domain/Profiles/Profile.php:151
      • 20. view::frontend._artivent:63
      • 22. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
      • 23. /vendor/laravel/framework/src/Illuminate/View/View.php:142
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      Metadata
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      Backtrace
      • 21. view::frontend.profiles._article-byline:12
      • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
      • 24. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:125
      • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:90
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      Backtrace
      • 16. /vendor/laravel/framework/src/Illuminate/Support/Traits/ForwardsCalls.php:23
      • 19. /app/Domain/Profiles/Profile.php:127
      • 20. view::frontend._artivent:78
      • 22. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
      • 23. /vendor/laravel/framework/src/Illuminate/View/View.php:142
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      Metadata
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      Backtrace
      • 16. /vendor/laravel/framework/src/Illuminate/Support/Traits/ForwardsCalls.php:23
      • 19. /app/Domain/Profiles/Profile.php:127
      • 20. view::frontend._artivent:89
      • 22. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
      • 23. /vendor/laravel/framework/src/Illuminate/View/View.php:142
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      Metadata
      Backtrace
      • 14. /app/Domain/Partners/PartnerRepository.php:58
      • 15. /app/Http/ViewComposers/PartnersComposer.php:24
      • 16. /app/Http/ViewComposers/SimpleComposer.php:15
      • 21. /vendor/laravel/framework/src/Illuminate/View/Concerns/ManagesEvents.php:179
      • 22. /vendor/laravel/framework/src/Illuminate/View/View.php:123
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      • 18. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
      • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:90
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      • 18. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
      • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:90
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      • 18. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
      • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:90
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      Metadata
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      • 18. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
      • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:90
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      Metadata
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      • 18. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
      • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:90
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      Metadata
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      • 18. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
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      Metadata
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      • 18. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
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      Metadata
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      • 18. /vendor/laravel/framework/src/Illuminate/View/View.php:142
      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
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      Metadata
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      Metadata
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      Backtrace
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      • 19. /vendor/laravel/framework/src/Illuminate/View/View.php:125
      • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:90
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      Metadata
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