GVC agrees new £535m credit facility with existing banks

Tue, 28th Apr 2020

Gambling group GVC said it had agreed a new £535m revolving credit facility with existing lending banks. The facility was substantially the same terms as the previous one, which had now been cancelled, save for a revised covenant limit. The facility was currently undrawn and GVC reiterated that it also had accessible cash of over £350m at 31 March. 'Having taken early and decisive actions to mitigate the impact of Covid-19 on our business, we are confident that we can achieve our target of breakeven cashflow per month during this crisis,' chief executive Rob Wood said. At 1:12pm: (LON:GVC) Gvc Holdings PLC share price was +26.2p at 751p Story provided by StockMarketWire.com

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