Shipyard Harland and Wolff in Belfast Harbour has secured a £2m (€2.35m) asset backed term debt facility.

Funds raised writes Independent.ie, will be used for working capital purposes, according to a statement from InfraStrata, the company which agreed to buy the Belfast shipyard last year.

The facility is for a period of two years, with the main amount repayable as a lump sum payment at the end of the period.

The loan carries a coupon of 13.2pc per year, payable in equal monthly instalments.

As previously reported on Afloat last week InfraStrata is behind a gas storage project in Larne Lough. 

For more click here on this financial development at the yard.