Hayward Tyler completes latest loan note issue

Specialist engineering company Hayward Tyler Group announced the successful completion of its latest loan note issue at £0.6m on Monday.

The AIM-traded firm said the loan notes carry a one-year term and pay interest at 6.75%.

Proceeds of the issue were to be used to reduce the company's revolving credit facility with Royal Bank of Scotland by £0.6m.

“The group continues to have a supportive relationship with RBS, which has now agreed to extend the repayment date of the remaining balance of the £2.4m short term borrowings under the RCF to 28 February 2017,” Hayward’s board said in a statement.

“Further updates regarding the repayment of the £2.4m short term borrowings will be made in due course.”