Banks give lifeline to iSoft until 2007
Further funding provided until next year
Software provider iSoft, currently facing a probe by the FSA, has received
some good news this week after its banks agreed to provide further financing to
carry it into next year.
The deal will allow the company to finally reveal annual results, while at
the same time avoid having its shares suspended on the stock exchange.
Due to the uncovering of accounting irregularities, the company providing
software for the upgrade of the NHS’s new IT systems, had breached its
agreements with HSBC, Royal Bank of Scotland, Barclays and Lloyds TSB about a
£140m loan facility, The Independent reported.
But today, iSoft will be able to reveal that it now has a financial lifeline