LONDON--Smart Metering Systems PLC (SMS.LN) said Monday it got a loan of 280 million pounds ($337.4 million) from a syndicate of banks, which includes Barclays Bank PLC (BARC.LN), Santander U.K. PLC, and others.

This loan replaced the company's GBP150 million loan announced in March last year, it said.

The money will be used to invest in the company's assets and accelerate growth, Smart Metering said.

-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

(END) Dow Jones Newswires

March 13, 2017 03:37 ET (07:37 GMT)

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