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Thus banks on reduced loan facility to cut fees
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SCOTTISH telecoms group Thus has signed an agreement with its
banks to reduce the size of its loan facility from GBP 90 million to
GBP 60m in a bid to reduce its fees as it works to become cash-flow
positive.
The Glasgow-based group also said trading last month had been in
line with expectations, and it is on track to achieve positive cash
flow by the end of March 2004.
A spokesman said: "The reduced GBP 60m loan facility will provide
Thus with more than sufficient headroom above its forecast peak
drawdown on the facility of less than GBP 50m, ...
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