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Wednesday, April 23rd, 2008

Top Ten Bingo Deal

Online bingo operator Top Ten Bingo has reportedly signed a three year banking facilities agreement with the Royal Bank of Scotland.  The deal includes the conversion of nearly £13 million of existing senior debt into a mezzanine loan.

Chairman Sir Aubrey Brocklebank claims the new financing facilities will allow the online bingo games operator "a reasonable period to rebuild its profit base".

The facilities are reported to include a warrant for RBS to subscribe for 10 per cent of its share capital at 20p per share at any time prior to April 2013.

posted by bingolord 0 comments


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