STW Comm signs $170m debt facility

Marketing and communications group STW Communications (ASX:SGN) has arranged new Australian banking arrangements with HSBC and Westpac (ASX:WBC), including a $170 million debt facility.

The company said the new terms, which also includes $8 million in bank guarantee facilities, will push the earliest maturity on its core debt facility until 2014, with options to extend it further to 2015.

STW plans to reduce its access to surplus facilities by $94 million, but will hold on to its New Zealand facilities which total a further $4 million.

SGN shares grew 1.35% in Thursday's trading to $1.125.