21st Jun 2016 06:30
LONDON (Alliance News) - Building products distributor SIG PLC on Tuesday said it has refinanced GBP130.0 million in private placement notes due to mature in November 2016.
SIG said the refinancing has been achieved via the issue of GBP83.0 million new private placement notes with a ten-year maturity and by increasing its revolving credit facility to GBP350.0 million from GBP250.0 million previously, with a five-year maturity.
As a result, SIG's total debt facilities have increased by GBP53.0 million to GBP531.0 million.
The facilities, which SIG said have been agreed on "attractive terms", will provide more funding headroom and liquidity to the company to support its medium-term plans, it said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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