NAHL agrees renewal of Clydesdale Bank facility

Consumer legal marketing and services firm NAHL Group announced the successful renewal of its banking facilities with Clydesdale Bank, part of Virgin Money UK, on Friday.

The AIM-traded company said the revolving credit facility, originally set to end on 31 December 2024, had been extended to 31 December 2025.

Moreover, the facility's limit was decreased by £5m, now standing at £15m.

The firm said the adjustment aligned with its medium-term strategies, and reflected a 27% reduction in net debt, which amounted to £9.7m as of the end of 2023, compared to £13.3m at the end of 2022.

It said the interest rate on the facility remained consistent at 2.25% above the sterling overnight index average (SONIA).

Reporting by Josh White for Sharecast.com.