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Specialist brick maker Michelmersh Brick Holdings plc has completed the refinancing of all of its term loans and overdraft facilities.
The existing Bridging Loan and Revolving Loan facilities have been extended with repayment now falling due on 1 June 2011. The company has also received further funding from Venture Structured Finance, part of ABN Amro BV.
Chairman Eric Gadsen, said that the renegotiated facilities further underline the confidence in the management team and business model. “Our market and asset position continues to remain strong and even in the present economic circumstances we believe we are well placed and ambitious to take advantage of opportunities as they arise.”
