Trinity Mirror Plc (TNI), the publisher of the U.K.’s Daily Mirror tabloid newspaper, signed a 110 million-pound ($172.5 million) debt facility.
The credit line, which reduces to 102 million pounds in March 2014 and 94 million pounds in March 2015, matures in August 2015 and is available from June 2013 or earlier if the current facility is canceled, according to a statement from the London-based company. Royal Bank of Scotland Group Plc and Lloyds TSB Bank Plc coordinated the deal.
The company’s current 178.5 million-pound facility, which matures in June 2013, is undrawn and has been reduced to 135 million pounds, the company said.
In today’s preliminary results announcement, Trinity Mirror reported a drop in revenue to 746.6 million pounds for 2011, compared with 761.5 million pounds the year before.
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