Zinc Media secures £3m credit facility and £1m of new work

Zinc Media Group PLC (AIM:ZIN) Group, the television, audio and brand production group, has agreed a £3m revolving credit facility with Lloyds Bank and secured a further £1m of new business.

The three-year facility includes an option to expand by a further £2m, subject to lender approval, and is intended to support working capital requirements and the group's growth strategy.

The additional new business includes a recommission of BBC One's Sunday Morning Live, which returns for its 17th series.

Chief financial officer Laura McGaughey said the facility would provide flexibility to manage working capital across the group's labels and revenue streams as it pursues international opportunities, particularly in the US and the Middle East.