IN BRIEF: Harworth inks GBP275 million revolving credit facility
Harworth Group PLC - Rotherham, South Yorkshire-based regenerator of land for sustainable development - Signs a new GBP275 million revolving credit facility with existing lenders, replacing its existing GBP240 million facility. It includes an uncommitted accordion option that would take the RCF to GBP325 million, notes Harworth. It says it holds an improved margin of 200 basis points over the sterling overnight index average, or Sonia, and possesses an initial four-year term which can be extended to five years. Harworth notes the syndicate includes its existing relationship banks, NatWest Group PLC, Banco Santander SA and HSBC Holdings PLC, with the potential to add more lenders. Adds that the new facility extends its debt maturity by around two and a half years. Read More