20th Jun 2018 16:31
LONDON (Alliance News) - Smurfit Kappa Group PLC said Wednesday it has refinanced its existing five-year trade receivables securitisation facility with Lloyds Bank PLC.
The facility had been scheduled to mature in 2019 but will now mature in 2023 and provide up to EUR230 million in financing.
The refinanced facility utilises the paper packaging company's receivables in France, Germany and the UK.
The new facility "complements" the company's existing EUR175 million securitisation facility which matures in 2022, say the FTSE 100-listed paper giant.
Shares in Smurfit Kappa were up 1.7% Wednesday at 3,082.00 pence each.
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