One51, the investment group headed by Philip Lynch, says it has reached agreement with its six existing banks to extend a €200m facility up to the end of June 2013.
The group said there would be an increase in borrowing costs as a result, but added that the terms were 'competitive in the current banking environment'. The existing facility is due to run out in December.
Mr Lynch said One51 had been 'actively deleveraging' over the past two years and the new facility would give it 'good headroom' over anticipated borrowing requirements.
He said the group's debt at the end of last year stood at €147m, well within existing facilities. A One51 statement said its financial results for 2010 would be sent to shareholders shortly.
One51 employs over 1,000 people in Ireland and the UK, mainly at its ClearCircle environmental division.
The banks involved in the deal are AIB,, Bank of Ireland, Bank of Scotland, KBC Bank, Rabobank and Ulster Bank.
