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Optare buys more time with banks

29th October 2009

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LANCASHIRE bus maker Optare has had the review date of its bank facility extended while discussions with its bank are ongoing.The loss-making company recently raised around £8.6m through a share placing in a move to shore up its balance sheet.Today it said the bank had agreed to extend the facility review date to November 28 and to waive existing covenants until that date.Directors added that discussions are at an advanced stage and that they were “confident” of being able to renew the group’s bank facilitie......for the full story register now for free or login below...


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