Glasgow-based media firm STV Group plc said on Friday it secured an extension of its £60 million revolving credit and overdraft facility.

STV said the bank facility extension, which has a maturity date of June 2022, extends its previous facility agreement which was due to end in June 2019.

“Santander UK plc has increased its commitment to provide £40 million, with Barclays Bank plc providing the remaining £20 million,” said STV.

“The extended facility, which carries standard covenant arrangements, includes interest cover and net debt: EBITDA ratio tests.

“The facility will provide headroom for the group’s ongoing requirements as well as the flexibility to capitalise on future development opportunities.”

STV Group chief financial officer George Watt said: “We are pleased to have agreed this bank facility extension which has been reached through our ongoing close relationships with both Santander, which has become the group’s largest lender as well as providing retail banking services, and Barclays.”