28th Mar 2014 11:59
LONDON (Alliance News) - Kingspan Group PLC Friday said it has extended the maturity of its existing EUR300 million revolving credit facility by two years to March 2019.
Kingspan said the extension has been agreed with revised, and more favorable, pricing on a drawn and undrawn basis.
The facility which is currently undrawn will be used for general corporate purposes.
All pre-existing syndicate members, comprising seven international and one domestic bank, are maintaining their capital allocations on the revised and extended terms.
"We are pleased to complete this transaction with a top-tier lending group which reflects Kingspan's strong balance sheet and credit profile. It improves our capital structure by lengthening our debt maturity profile at very competitive pricing and affords Kingspan significant financing headroom as we seek to further develop our business internationally," Chief Financial Officer Geoff Doherty said in a statement.
Kingspan shares were Friday quoted at 13.90 pence, up 0.5%.
By Samuel Agini; [email protected]; @samuelagini
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
KGP.L