18th Aug 2015 06:44
LONDON (Alliance News) - McColl's Retail Group PLC Tuesday said it has signed an amended GBP85 million revolving credit facility and a GBP15 million accordion, to replace its existing bank facilities which were due to expire in July 2018.
The newsagent and convenience store chain said that the new facilities will be in place until July 2020, with margins at a lower cost than the existing arrangements. The facilities have been arranged with Barclays Bank PLC, Royal Bank of Scotland PLC, Santander UK PLC and AIB Group (UK) PLC.
"We are delighted to have extended our existing facilities which give us the medium-term funding security to execute our strategy with confidence. The continuing support of our banks reflects their confidence in the prospects of the group," Chief Executive James Lancaster said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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