The agreement solidifies credit ratings for South Staffs Water and supports growth within the Group’s non-regulated businesses.
South Staffordshire Plc, an integrated services group that operates in essential services markets, is pleased to announce that it has agreed terms to borrow a total of £145m of new funding with terms ranging up to 10 years.
The proceeds, arranged with a small group of banks and financial institutions, will be used to repay near term maturing bank facilities and to meet the general requirements of the group as it continues with its growth plans across both existing and emerging markets over the coming years.
Steve Mabbott, operations manager at Eden Geothermal Ltd commented:
“We were impressed with OnSite’s technical experience, knowledge and skills in designing and installing heat mains and having them onboard will help us confidently progress the next step of this exciting project to deliver clean, green energy; we are really looking forward to working with the team at OnSite on this pioneering venture in Cornwall.”