Zetar Completes Refinancing
Zetar, the UK confectionery and snack foods group, has completed its refinancing, agreeing new four year bank facilities with HSBC Bank. The refinancing provides Zetar with up to £45m in a combination of asset-based and revolving credit facilities. The new facilities will not give rise to a material change in forecast finance charges for the current financial year.
The HSBC facilities will accommodate the working capital required to meet Zetar’s organic sales growth plans for the next four years. “The group has some exciting plans for innovation-led sales growth over the coming years. I am delighted that a global, market-leading bank like HSBC has recognised the potential of our business and has agreed to support us,” comments Ian Blackburn, chief executive of Zetar.
