Marketing communications group Media Square PLC (MSQ.LN) Monday said it has agreed new three-year, GBP26.6 million banking facilities with Bank of Scotland, part of Lloyds Banking Group PLC (LLOY.LN).

Chairman Roger Parry said the new facility, which includes long-term debt capacity of GBP22.6 million and short-term revolving credit of GBP4 million, gives it the flexibility to rebuild operating results over the next three years to "acceptable industry levels."

The new facility, which runs until June 2013, will replace the current one.

The move needs shareholder backing and they will vote on related resolutions at the upcoming annual general meeting.

-By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com
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