SEG completes new borrowing and guarantee facilities

Specialist Energy Group (SEG) has announced that it has arranged new borrowing and guarantee facilities with Standard Chartered Bank (SCB) and MBE Mineral Technologies, replacing the existing facilities from Lloyds TSB and Nationwide Building Society.

According to a statement from SEG, the new facilities are more appropriate for the export markets of China and India.

SCB will provide a revolving credit facility (£7m), a bonds and guarantees facility (£3m) and a foreign exchange facility.

MBE will provide term loans (£4m).