19th May 2014 07:57
LONDON (Alliance News) - Grafton Group PLC Monday said it has signed new five-year revolving credit facilities totalling GBP460 million, with its relationship banks.
The builders' merchant and DIY group, which has operations in the UK, Ireland and Belgium, said the increased facilities provide the group with additional financial headroom as it continues to execute its growth strategy.
The group said the bilateral multi-currency facilities have a maturity date of May 2019.
"The refinancing takes advantage of improved lending conditions and will lead to annualised finance charge savings based on current drawings of around GBP3 million per annum," the company said in a statement.
Grafton shares were trading up 1.9% at 552.00 pence Monday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Grafton Group