Parity Group plc has entered into an agreement with PNC Financial Services UK LTD
Parity Group plc
New Asset-based lending facility
Parity Group plc announces today that it has entered into an agreement with PNC Financial Services UK LTD, the UK arm of PNC Business Credit, for the provision of asset-based lending facilities for the next three years, at the level requested by the Board. The new facilities deliver increased funding of up to 3m. PNC Business Credit is the asset-based lending division of U.S.-headquartered PNC Bank, National Association, a member of The PNC Financial Services Group, Inc.
CEO, Paul Davies, said today "This is another important step in our stated strategy to return Parity to profitability and to improve shareholder value."