Sceptre agrees new debt facility

FRUIT machine supplier Sceptre Leisure has agreed a new debt facility worth £6.5m with Lloyds Banking Group.

The business, based near Preston, has been in talks for a number of months to replace an existing £3m overdraft which expires on December 31.

The debt consists of a £6m revolving credit facility and £500,000 overdraft.
 
In the six months to October 31 Sceptre reduced its net debt from £19.3m to £16.7m. The company said the new facilities will increase its financial flexibility and allow it to grow its estate of gaming machines.

Chief executive Ken Turner said: “We are delighted to be working with Lloyds Banking Group and we are looking forward to the opportunities that this new facility will give us to expand and grow our business.

“This new facility demonstrates the strength of our business and will allow Sceptre further flexibility in the future.”