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Inspired Energy completes £9m energy deal

Inspired Energy has entered into a new facility agreement with Santander for a £10m term loan, replacing the group's previous £5m term loan facility and £0.6m of drawn RCF facilities. The new arrangement has helped the Kirkham-headquartered energy procurement consultancy complete its acquisition of Kent-based STC Energy and Carbon Holdings for an initial consideration of £5m in cash and issue of 32.8 million shares to the founders of STC. Inspired Energy has also entered into a revolving credit facility with Santander for the sum of £1.5m of which £0.6m is drawn, and an acquisition facility of up to £3.5m to fund future group acquisitions.

 

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