7th Aug 2015 06:49
LONDON (Alliance News) - Self-storage company Safestore Holdings PLC on Friday said it has amended and extended its existing banking facilities.
Its sterling and euro-denominated facilities have both been extended by two years to June 2020, from June 2018 previously.
The facilities include a GBP126 million fully-drawn term loan, an GBP80 million revolving facility and a EUR70 million revolving facility.
The margin on the loans reduces by 75 basis points to 150 basis points, the company said.
"We are pleased with the improved cost effectiveness, debt maturity and balance sheet flexibility that the amendment and extension of our bank facilities gives the group and appreciate the ongoing supportiveness of our lenders," said Safestore Chief Financial Officer Andy Jones.
By Sam Unsted; [email protected]; @SamUAtAlliance
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