Last Updated at 25 Nov 2011, 11:30 ET*Chart shows local time
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Travel firm Thomas Cook has reached agreement with its bankers to provide it with new access to funding.
Its bankers, including Barclays, HSBC, RBS and UniCredit, have agreed to provide a new £200m facility until 30 April 2013.
It replaces the £100m short-term facility announced on 21 October 2011.
On Tuesday, the company's shares had fallen from 41p to close at 10.2p after it said it was in talks with banks about increasing borrowings.
It will also issue its preliminary financial results, for the 12 months ending on 30 September 2011, during the week beginning 12 December 2011.
These had been delayed until the loan talks had been concluded.
The company's board is also to taking steps, including a strategic review, to reduce the group's debt "and reach a more appropriate capital structure over time".
"I am absolutely delighted that we have reached agreement and I would like to thank the banks for acting so swiftly," said group chief executive Sam Weihagen.
Last Updated at 22 Nov 2011, 11:30 ET*Chart shows local time
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Shares in Thomas Cook have closed down 75% after it announced it was in talks with banks about increasing the amount of money it can borrow.
The travel firm said it had seen a "deterioration of trading", due to political unrest in Egypt and Tunisia and floods in Thailand.
It also said it would delay releasing its full year results until it had concluded the discussions.
Thomas Cook reassured customers that their bookings were fully protected.
Improving 'resilience'
Last month, Thomas Cook announced it had arranged a new £100m credit agreement with its bankers.
The company is trying to negotiate about another £100m credit.
Thomas Cook chief executive Sam Weihagen tells customers they can be confident booking with his company
At the end of September its net debt was just under £900m. The new loan, if agreed, would take the figure to over £1bn.
Thomas Cook said that while the last loan had taken four to six weeks to arrange, there was greater urgency this time and it was confident of being significantly quicker this time.
The company has stressed that it is not currently in breach of the terms of any of its loans, but that it wanted to "improve its resilience if trading conditions remain difficult".
Thomas Cook said last month that the terms of an existing £150m loan and an £850m credit facility have been amended to help cashflow.
It is reported to be planning to close 200 of its 1,200 High Street travel agencies and bureaux de change.
'Not travelling'
In a conference call, Thomas Cook chief executive Sam Weihagen reassured customers that it was business as usual.
"We have all the protection in place as any other travel company and they should not worry," he said.
Anyone booked for a package holiday with Thomas Cook is covered under the Air Travel Organisers' Licensing (Atol) scheme, which is funded by contributions from travel companies.
However, people who have only booked a flight with the company will not be covered by the Atol scheme and are advised to buy suitable travel insurance.
Mr Weihagen explained that trading had been particularly poor in France and Belgium, where bookings are down 20% compared with last year, and in Thomas Cook's Russian business.
"Winter travellers from Russia go to Thailand or Egypt," he said, adding that the floods in Thailand and continuing political unrest in Egypt had hit those bookings.
The biggest destination for French travellers in winter is Tunisia, which means that "the French people are simply not travelling".
He said that the trading position in the UK was "tough, but not of the same magnitude".
Thomas Cook shares have fallen 95% from their high for the year of 205 pence per share recorded in January, closing at 10p on Tuesday.
"Clearly the extremely low share price is of concern," said Mr Weihagen, adding that the company was keen to sort out the debt issues so it could then address the share price.
It has been a tough year for travel companies generally. Thomas Cook's rival Tui's shares have fallen 68% from their high for the year, including a further 5.6% fall following Thomas Cook's announcement on Tuesday.
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